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S&P Credit Research1007 word report
published Nov 11, 2008
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Nov. 11, 2008--Standard&Poor's Ratings Services today lowered its ratings on the class A-1 and A-2 notes from series 2000-1 issued by Embarcadero Aircraft Securitization Trust to 'B-' from 'B' and to 'B-' from 'BBB-', respectively. Additionally, we assigned a negative outlook to both classes. The downgrades reflect value declines in the transaction's aircraft portfolio (as the value is an indicator of future lease revenues), a trend that we expect to continue, coupled with the effect of a correction of a previous interpretation of the payment priority mechanisms within the structure. As with many aircraft securitizations originated in the late 1990s and early 2000s, this transaction has a significant concentration of older aircrafts--some of
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| Brief Excerpt: | RESEARCH Ratings Definitions Embarcadero Aircraft Securitization Trust Ratings Lowered On 2 Classes; Outlooks Are Negative Publication date: 11-Nov-2008 Primary Credit Analyst: Jay Banerjee, New York (1) 212-438-3792; jay_banerjee@standardandpoors.com...
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| Report Type: | Ratings Action
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| Issuer: | Embarcadero Aircraft Securitization Trust
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| Sector: | Asset-Backed Securities, Structured Finance
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| Country: | United States
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| Region: | United States
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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- Embarcadero Aircraft Trust Class A Rating Cut; Off Wtch; Outlook Neg; Class C Rating Unchanged $175.00
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LONDON (Standard&Poor's) March 19, 2003--Standard&Poor's Ratings Services said today it lowered its rating on Embarcadero Aircraft Securitization Trust's (EAST) class B notes to 'D' from 'CC', after the class B noteholders did not receive their ...
- Embarcadero Aircraft Securitization Trust's Class B Series 2000-1 Notes Rating Lowered $175.00
NEW YORK (Standard & Poor's) Nov. 5, 2002--Standard & Poor's Ratings Services today lowered its rating on Embarcadero Aircraft Securitization Trust's (EAST) class B floating-rate notes series 2000-1 to double-'C' from triple-'C'-minus. The ...
- Embarcadero Aircraft Securitization Trust 2000-1 Ratings Lowered and Remain on CreditWatch Neg $175.00
NEW YORK (Standard & Poor's) July 11, 2002--Standard & Poor's today lowered its ratings on Embarcadero Aircraft Securitization Trust's (EAST) floating-rate notes series 2000-1, classes A, B, and C. The ratings remain on CreditWatch where they ...
