S&P Global Credit Markets Digest-Asia-Pacific Update.Business Editors NEW YORK--(BUSINESS WIRE)--March 18, 2003 ASIA-PACIFIC UPDATE: Here is the current lineup of top articles and research from Standard & Poor's: COMING UP -- Injections Into U.S. Strategic Petroleum Reserve Abetting High Pump Prices -- Debt Treatment of Contingent Capital for U.S. Energy Marketing and Trading -- Floating-Rate Loans Come Under the Microscope -- Industry Report Card: Latin American Banks -- The Importance of GASB's definition of Other Post-Employment Benefits -- Bank Industry Risk Analysis: United States -- EU Accession Countries: Challenges on the Road to Membership UPCOMING TELECONFERENCES: -- Quarterly Trends in European Banking. Tues., March 18, 10 AM -- London Underground PPP (Point-to-Point Protocol) The most popular method for transporting IP packets over a serial link between the user and the ISP. Developed in 1994 by the IETF and superseding the SLIP protocol, PPP establishes the session between the user's computer and the ISP using : The Metronet Proposal, Wed., March 19, 9 AM -- Tobacco Settlement Financing Corp.'s Series 2003A and 2003B Bonds, Wed., March 19, 2 PM -- Global Building Materials Credit Quality. Thurs., April 28, 10 AM -- North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Building Materials, Homebuilder, and Home Center Retail Credit Quality. Thurs., June 12, 10 AM -- Forest Products Credit Quality, Tues., June 17, 10 AM All times U.S. Eastern. For complete details see ratingsdirect.com or standardandpoors.com PUBLISHED: RESEARCH REPORTS CORPORATES -- Industry Report Card Released on European Forest Products -- Australian Steel Industry Withstands Global Economic Turmoil -- S&P Report Says War With Iraq Not an Immediate Threat to U.S. Health Care Credit -- Increasing Longevity in the U.S. Adds More Pressure to State and Local Government Creditworthiness Creditworthiness The condition in which the risk of default on a debt obligation by that entity is deemed low. Creditworthiness Eligibility of an individual or firm to borrow money. -- U.S. Economic Forecast: A Foggy Bottom Crystal Ball GLOBAL FIXED INCOME -- Europe Investment Grade Market: Not Much of a Lull After the Storm FINANCIAL SERVICES -- Industry Report Card: European Banks -- Austrian Banking System is Strong Enough to Withstand the Economic Downturn Despite Weaknesses -- Bank Contingency Planning in the Gulf Provides Cushion in Event of War in Iraq -- Accounting Rules and Business Needs at Odds U.S. PUBLIC FINANCE -- Michigan's Debt Rating Outlook Revised to Negative; 'AAA' Rating Affirmed SOVEREIGNS -- War in Iraq Not to Have Ratings Impact on European Strategic Oil Reserve Management Agencies STRUCTURED FINANCE -- S&P Surveys Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. Market on FIN 46 via Structured Finance Market Opinion -- Aussie RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities : In Search of Sub-Debt Investors Special Report Published -- Rating Transitions 2002: Global CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the and Credit Default Swap Credit Default Swap A swap designed to transfer the credit exposure of fixed income products between parties. Notes: The buyer of a credit swap receives credit protection, whereas the seller of the swap guarantees the credit worthiness of the product. Rating Performance -- U.S. Retail: What Will CMBS CMBS See: Commercial Mortgage Backed Securities Do With All of the Space? -- Italy's First Wholly Synthetic ABS Deal Could Serve as Blueprint for Traditional Asset Classes RATING ACTIONS CORPORATE RATINGS -- AMP Shopping Centre Trust Ratings on CreditWatch Negative -- Gala Group Holdings PLC Ratings Still on CreditWatch Negative Following Successful Bond Tender -- KeySpan Corp. Ratings Affirmed; Outlook Revised to Negative -- The BOC (Bell Operating Company) One of 22 companies that was formerly part of AT&T and later organized into seven regional companies. See RBOC. Group PLC Long-Term Ratings Lowered to 'A'; Outlook Stable -- International Paper's $1 Bil Sr. Notes Rated; $6 Bil Shelf Assigned Preliminary Ratings FINANCIAL SERVICES RATINGS -- Danish Non-Life Insurers Outlook Revised to Developing Due to Liability Claims Inflation -- Sumitomo Mitsui Banking Corp. Europe Ltd. Assigned 'BBB/A-2' Ratings; Outlook Negative LOCAL & REGIONAL GOVERNMENTS -- 'mxAA-' National Scale Rating Assigned to City of Puerto Vallarta -- Ratings on French Region of Champagne-Ardenne Affirmed at 'AA/A-1+'; Outlook Stable STRUCTURED FINANCE RATINGS -- Ratings Lowered in 4 Toronto-Dominion Bank CDO Transactions Due to Negative Credit Migration RESEARCH ANALYSIS CORPORATES -- Embotelladora Andina S.A. -- Equity One Inc. FINANCIAL SERVICES -- W. R. Berkley W.R. Berkley NYSE: BER is a Fortune 500 company founded in 1967, and based in Greenwich, Connecticut. It is one of the nation’s premier commercial lines property casualty insurance providers. Corp. -- Wachovia Corporation -- Federal Home Loan Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. SOVEREIGNS -- Morocco (Kingdom of) -- Chile (Republic of) STRUCTURED FINANCE -- New Issue: CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank Mortgage-Backed Trust Series 2003-7 -- New Issue: CitiFinancial Mortgage Securities Inc. -- New Issue: Chase Mortgage Finance Trust 2003-S3 -- New Issue: ABN AMRO Mortgage Corp. -- New Issue: 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. Mortgage Securities Inc. 2003-B Copyright (c) 2003, Standard & Poor's Ratings Services |
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