Spirit Master Funding Net Lease Mortgage Notes, Series 2008-1
8 pages (4925 words) —
Published Jul 23, 2008
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| Brief Excerpt: | ... on the Class B notes of the Spirit Master Fu nding Net-Lease Mortgage Notes, Series 2008-1 to be issued by Spirit Master Funding IV, LLC, Spirit Master Funding III, LLC, Spirit Master Funding II, LLC and Sp irit Master Funding, LLC ("Co-Issuers"), which are all special purpose entities whol ly owned by Spirit Finance Corporation "Spirit Finance"), are based on the quality of the collateral, the transaction structure, and available credit enhancement. This will be the first series to be issued from this master trust that has a senior/subordinate structure without the benefit of a monoline wrap. Important factors in Moody's assessment of risk include: Credit quality of the tenants in the collateral pool; Tenant industry and geographic divers ification of the collateral portfolio; Transaction structure and specific features related to property substitutions and release of the collateral; Interest advances by the liquidity provid er (Midland Loan Services, Inc.) and the indenture... |
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| Report Type: | Pre-Sale Report |
| Free Sample: | |
| Format: | | PDF |  |
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Moody's Investors Service, a leading global credit rating, research and risk analysis firm, publishes credit opinions, research, and ratings on fixed-income securities, issuers of securities and other credit obligations. Credit ratings and research help investors analyze the credit risks associated with fixed-income securities. Ratings also create efficiencies in fixed-income markets and similar obligations, such as insurance and derivatives, by providing reliable, credible, and independent assessments of credit risk. For issuers, Moody's services increase market liquidity and may reduce transaction costs.
