Fitch Rates New BASeries Class A (2001-Emerald) Notes 'F1'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has assigned a 'F1' rating to BASeries class A(2001-Emerald) ('Emerald Notes') extendible note program sponsored by FIA FIA feline infectious anemia. Card Services The software support for PC Cards. PC Card applications talk to Card Services. See PC Card. , National Association, following amendments to the program lowering the liquidity facility percentage from 23% to 17% and decreasing the Emerald Notes credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing from 8% to 7%. These changes take effect on August 8, 2007, at which point the ratings of the newly issued Emerald Notes issued from this day forward are 'F1', while Emerald Notes that were issued prior to August 8, 2007 remain rated 'F1+', since previously issued Emerald Notes continue to benefit from the pre-amendment higher liquidity and credit enhancement percentages noted above. The aggregate program maturity note purchaser commitment provided by various banks remains unchanged at $2.373 billion. Given the amount of liquidity commitments and the reduced maturity note purchase facility percentage, the maximum program size will increase from $10.317 billion to $13.958 billion over time. The Emerald Note program was created and designed to afford alternative funding to term securitizations for the funding of FIA Card Services credit card portfolio. The expected payment dates on the Emerald Notes range from one to 99 days from the issuance date. The notes are issued on a discount basis, but if any note is not paid on its expected payment date, it will be converted to an interest-bearing note, called an Extended Note and be due by its maturity date, which is 390 days from the issuance date. Payment of the notes on their respective expected payment dates is made from funds in the interest funding sub-account for the class A(2001-Emerald) notes, proceeds from the sale of new Emerald Notes on the expected payment date and, in certain circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , from funds in the principal funding sub-account of the class A(2001-Emerald) notes. If an Extended Note is not paid in full by its maturity date, Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. will issue maturity notes which will be purchased by maturity note purchasers, or liquidity providers, if and to the extent available under the maturity note purchase facility and subject to the satisfaction of certain conditions sufficient to retire such Extended Note on its maturity date. The amount available under the maturity note purchase facility equaled 23% of the adjusted outstanding dollar principal amount of the class A(2001-Emerald) notes prior to August 8, 2007, and was adjusted to 17% effective today. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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