S&P Afms Special Purpose Account Rec Cooper CP Rtg.Business Editors NEW YORK--(BUSINESS WIRE)--Standard & Poor's Oct. 18, 2001--Standard & Poor's affirmed its 'A-1' rating on the commercial paper notes of Special Purpose Accounts Receivable accounts receivable n. the amounts of money due or owed to a business or professional by customers or clients. Generally, accounts receivable refers to the total amount due and is considered in calculating the value of a business or the business' problems in paying Cooperative Corp. (SPARCC SPARCC Stark-Portage Area Computer Consortium ). The rating action follows SPARCC's purchase of CLOs. The conduit will fund up to $50 million. The rating on SPARCC's commercial paper program is based on liquidity and credit support from the providers with short-term ratings commensurate com·men·su·rate adj. 1. Of the same size, extent, or duration as another. 2. Corresponding in size or degree; proportionate: a salary commensurate with my performance. 3. with SPARCC's 'A-1' rating, structural provisions that offset interest rate risk, and an adequate legal structure. SPARCC is a multiseller, partially enhanced asset-backed commercial paper conduit administrated by Canadian Imperial Bank of Commerce The Canadian Imperial Bank of Commerce TSX: CM NYSE: CM, better known to most customers as CIBC, is one of Canada's major banks. CIBC is classified as a Domestic Chartered Bank (Schedule I). (double-'A'-minus/Negative/'A-1'-plus). ---CreditWire |
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