S&P BULLETIN: Ownshp Chng Dsnt Impct Members Equty SE Rank.Business Editors MELBOURNE, Australia--(BUSINESS WIRE)--Feb. 20, 2003 Standard & Poor's Rating Services said today that the change in ownership of Members Equity Pty. Ltd. (ME), and the consequential changes to the composition of its Board, will not adversely affect Standard & Poor's 'STRONG' Residential Loan Servicer Ranking on ME, or the ratings on RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities issued under ME's 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) and NMHL securitization programs. ME, which was originally established as a joint venture company by AXA AXA Anguilla, Anguilla (Airport Code) AXA Alpha Chi Alpha AXA Animal Crossing Ahead (online forum community/guide to the game Animal Crossing) AXA Auxiliary Artery Asia Pacific Holdings Ltd. and Industry Fund Services (IFS), became a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of IFS on Jan. 7, 2003. IFS, a trust established on behalf of industry-based and corporate superannuation funds, acquired AXA's 50% shareholding in ME through a capital raising among the existing superannuation fund investors. Copyright 2003, Standard & Poor's Ratings Services |
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