Don't wanna be here? Send us removal request.
Text
TEXT-Fitch places two MARC Finance notes on RWN
JPY2bn* Series M415 repackaged notes due 2016 'Asf' placed on RWNJPY600m* Series M496 repackaged notes due 2017 'Asf' placed on RWN*as of 17 October 2011The RWN reflects Fitch's recent rating action on BNP Paribas (BNP; 'AA-' placed on RWN), the swap counterparty in these transactions, For further details, see "Fitch Places Major French Banks on RWN", dated 13 October 2011.The ratings of the notes reflect the first-to-default risk of the two risk-presenting entities in these transactions - the collateral issuer and the swap counterparty. A downgrade of the swap counterparty, if any, would lead to a similar rating action on both transactions.Fitch will resolve the RWN on these transactions once that on BNP's Long-Term IDR is resolved.
58 notes
·
View notes