| Title: | Beryl Finance Series 2005-8 Notes Rated 'BBB+'; Rating On CreditWatch Negative |
| Price: | $100.00 |
| Publication Date: | May 07, 2008 |
| Report Type: | News |
| Abstract: | TOKYO (Standard&Poor's) May 8, 2008--Standard&Poor's Ratings Services said today that it had assigned its 'BBB+' rating to the series 2005-8 synthetic portfolio notes issued by Beryl Finance Ltd. (Beryl Finance), due Dec. 20, 2010 (see list below). The rating has been placed on CreditWatch with negative implications. This is an arbitrage synthetic CDO transaction referencing a portfolio comprising 101 global corporate names. The issuer, Beryl Finance, has entered into a credit default swap agreement, and sold protection on the reference portfolio, thereby covering losses incurred by the portfolio. Beryl Finance transfers the credit risk of the underlying portfolio to investors through the credit-linked notes. If the cumulative losses in the reference portfolio exceed the threshold amount, |
| Brief Excerpt: | RESEARCH Ratings Definitions Beryl Finance Series ####-# Notes Rated '###+'; Rating On CreditWatch Negative Publication date: ##-May-#### Primary Credit Analyst: Kenichi Akaishi, Tokyo (##) #-####-####; kenichi_akaishi@standardandpoors.com... |
| Word Count: | 526 |
| Issuer: | Beryl Finance Ltd. |
| Sector: | Structured Finance, Collateralized Debt Obligations |
| Country: | Cayman Islands |
| Region: | Latin America |
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