S&P:Members Equity Launches Fourth Global RMBS Issue.Business Editors MELBOURNE, Australia--(BUSINESS WIRE)--April 21, 2003 Standard & Poor's--Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. has assigned its preliminary ratings to Members Equity Pty. Ltd.'s fourth global issue of residential mortgage-backed securities Residential mortgage-backed securities (RMBS) are a type of bond commonly issued in American security markets. They are a type of Mortgage-backed security which are backed by mortgages on residential rather than commercial real estate. (RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities ). The two classes of floating-rate notes Floating-rate note (FRN) Note whose interest payment varies with short-term interest rates. floating-rate note An unsecured debt issue with an interest rate that is reset at specified intervals (usually every six months) according to a are backed by prime Australian residential mortgage loans and will be issued via SMHL SMHL Sallie Mae Home Loans SMHL Senior Mens Hockey Leagues SMHL Shaking My Head, Laughing SMHL Smoke & Mirrors Hockey League (Vancouver, British Columbia, Canada) Global Fund No. 4. Class Rating Amount A AAA US$1.0 billion B AA A$30.0 million The preliminary ratings are based on information as of April 17, 2003. Subsequent information may result in the assignment of final ratings that differ from the preliminary ratings. "Members Equity has now issued the Australian dollar Noun 1. Australian dollar - the basic unit of money in Australia and Nauru dollar - the basic monetary unit in many countries; equal to 100 cents equivalent of A$5.8 billion into global markets," said Gary Tucker, director, Structured Finance Ratings. "This takes Australian RMBS global issuance to the Australian dollar equivalent of A$44.7 billion," added Mr. Tucker. A copy of Standard & Poor's complete presale report for this transaction is available on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. The presale report can also be found on Standard & Poor's Web site at www.standardandpoors.com. Select Fixed Income. Then, under Browse by Sector, select Structured Finance and find the article under Presale Credit Reports. Copyright 2003, Standard & Poor's Ratings Services |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion