S&P Rates Vauban Mobilisations Garanties' Bonds 'AAA'.PARIS--(BUSINESS WIRE)--Standard & Poor's-- Nov. 24, 1999-- Standard & Poor's today assigned its triple-'A' long-term ratings to three new tranches Tranches A piece, portion or slice of a deal or structured financing. This portion is one of several related securities that are offered at the same time but have different risks, rewards and/or maturities. "Tranche" is the French word for "slice". of bonds issued by Vauban Mobilisations Garanties S.A. (VMG VMG Vineyard Music Group VMG Voice Message VMG Video Map Generator (AN/GPA-134) VMG Vertical Magnetic Gradient (geophysical surveying) VMG Visión Mundial de Guatemala ): tranche Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. A -- euro (Eur) 200 million, due 2002; tranche B -- Eur250 million, due 2005; and tranche C -- Eur250 million, due 2008. Total VMG issuance for 1999 stands at Eur2.152 billion. The bonds issued by VMG are backed by French FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. units rated triple-'A' by Standard & Poor's. The FCC units represent pools of mortgage loans to individuals originated by Comptoir des Entrepreneurs. The last acquisition by VMG was of 56,822 FCC units issued by Partimmo 11/99, Standard & Poor's said. ---CreditWire |
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