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S&P Credit Research444 word report
published Mar 15, 2004
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S&P Credit Research
| Abstract: | NEW YORK (Standard & Poor's) March 15, 2004--Standard & Poor's Ratings Services today placed its ratings on Embarcadero Aircraft Securitization Trust's (EAST) class A-1, A-2, and C notes on CreditWatch with negative implications. The rating action reflects the continued deterioration in the transaction's net cash flow and the aircraft fleet value, which has had a negative impact on the funds available to service the outstanding notes. EAST's average annual lease revenues have continued to fall beyond the 40% decline experienced during the 12 months after Sept. 11, 2001. The aircraft-related maintenance expenses have continued to be a significant drain on the transaction despite an increase in maintenance collections from lessees. The decrease in lease revenues, along with an increase in
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| Brief Excerpt: | RESEARCH Ratings Definitions Embarcadero Aircraft Securitization Trust Ratings Placed on CreditWatch Negative Publication date: 15-Mar-2004 NEW YORK (Standard & Poor's) March 15, 2004--Standard & Poor's Ratings Services today placed...
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| Report Type: |
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| Issuer: | Embarcadero Aircraft Securitization Trust
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| Sector: | Asset-Backed Securities, Structured Finance
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| Free Sample: |
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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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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 ...
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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 ...
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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 ...
