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S&P Credit Research747 word report
published Nov 15, 2007
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S&P Credit Research
| Abstract: | PARIS (Standard&Poor's) Nov. 15, 2007—Standard&Poor's Ratings Services said today that it has assigned its "AVERAGE" ranking to Wachovia Bank International (Ireland) (WBI (Ireland)) as a commercial loan servicer in Germany. The outlook is stable. As of September 2007, WBI (Ireland) provided primary servicing on a balance-sheet portfolio of 54 loans, representing 305 properties and €1.82 billion in unpaid principal balance (UPB). It does not currently provide primary servicing for any European CMBS transactions and securitized loans. "This ranking reflects WBI (Ireland)'s limited track record in Germany rather than the quality of its servicing," said servicer analyst Marie-Noelle Brisson. "We require a longer track record to achieve a higher ranking." As is typical for servicers expanding in
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| Brief Excerpt: | RESEARCH Ratings Definitions Wachovia Bank International (Ireland) Assigned "AVERAGE" Ranking As Commercial Loan Servicer Publication date: 15-Nov-2007 Primary Credit Analysts: Marie-Noelle Brisson, Paris (33) 1-4420-6715; marie-noelle_brisson@standarda...
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| Report Type: | Ratings Action
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| Issuer: | Wachovia Bank International (Ireland)
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| Sector: | Servicer Evaluations, Structured Finance
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| Country: | Ireland
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| Region: | Europe, Middle East, Africa
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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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