S&P Places ELOC 7's Notes on Watch Pos; A, E Nts Afmd.Business Editors LONDON--(BUSINESS WIRE)--Standard & Poor's Aug. 13, 2002--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. said today it placed its ratings on the class B, C, and D notes issued by Bromios (European Loan Conduit No. 7) PLC ("ELOC ELOC Equity Line of Credit ELOC External Locus of Control ELOC Evangelical Lutheran Ovambo-Kavango Church (Africa) ELOC Executable Lines Of Code ELOC Extraneous Logical or in Expression Used as Branch Condition 7") on CreditWatch with positive implications. The ratings on the A and E notes were affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. (see list below). The CreditWatch placement follows the full repayment of one (the "Mayfair Place Loan") of the two U.K. commercial real estate loans that make up the collateral backing the notes, and significant prepayments Prepayments Payments made in excess of scheduled mortgage principal repayments. following sales of properties in the second (the "Portfolio Loan"). Standard & Poor's will conduct further analysis and expects to resolve the CreditWatch placement on receipt of further information on both the credit quality of the remaining assets in the Portfolio Loan and progress on further disposals. The ratings assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. to ELOC 7's notes continue to reflect the structure and credit quality of the underlying commercial mortgage loans, a liquidity facility, and interest rate hedging with appropriately rated counterparties Counterparties The parties on either side of an interest rate swap or a currency, equity or commodity swap, or to an options or futures position. .
RATINGS PLACED ON CREDITWATCH WITH POSITIVE IMPLICATIONS
Bromios (European Loan Conduit No. 7) PLC
GBP341.85 Million Commercial Mortgage-Backed Floating-Rate Notes
Class Rating
To From
B AA/Watch Pos AA
C A/Watch Pos A
D BBB/Watch Pos BBB
RATINGS AFFIRMED
Bromios (European Loan Conduit No. 7) PLC
GBP341.85 Million Commercial Mortgage-Backed Floating-Rate Notes
Class Rating
A1 AAA
A2 AAA
E BB
ANALYTICAL E-MAIL ADDRESSES
stuart_nelson@standardandpoors.com
ronan_fox@standardandpoors.com
StructuredFinanceEurope@standardandpoors.com
Copyright 2002, Standard & Poor's Ratings Services |
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