U.K. Corporate Securitization RAC Bond Co. Class A1 And A2 Notes Assigned 'BBB- (sf)' Ratings - S&P Global Ratings’ Credit Research

U.K. Corporate Securitization RAC Bond Co. Class A1 And A2 Notes Assigned 'BBB- (sf)' Ratings

U.K. Corporate Securitization RAC Bond Co. Class A1 And A2 Notes Assigned 'BBB- (sf)' Ratings - S&P Global Ratings’ Credit Research
U.K. Corporate Securitization RAC Bond Co. Class A1 And A2 Notes Assigned 'BBB- (sf)' Ratings
Published May 06, 2016
Published May 06, 2016
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

OVERVIEW We have assigned our 'BBB- (sf)' credit ratings to RAC Bond Co.'s class A1 and A2 notes. Our ratings reflect our view of the borrowing group's satisfactory business risk profile, the assets' performance and cash flow generating potential, any structural protections available to the noteholders, and a peer analysis. Under our assessment of the terms of the transaction documents related to the accounts, liquidity facility, the hedges, and the eligible investments, the notes can support a maximum rating of 'BBB- (sf)'. The transaction is a corporate securitization of the operating businesses of the obligors, RAC Bidco (Holdco) and its subsidiaries, which include the borrower, but exclude RAC Insurance. LONDON (S&P Global Ratings) May 6, 2016--S&P Global Ratings today assigned

  
Report Type:

Ratings Action

Issuer
RAC Bond Co. PLC
Sector
Structured Finance
Country
United Kingdom
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "U.K. Corporate Securitization RAC Bond Co. Class A1 And A2 Notes Assigned 'BBB- (sf)' Ratings" May 06, 2016. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/U-K-Corporate-Securitization-RAC-Bond-Co-Class-A1-And-A2-Notes-Assigned-BBB-sf-Ratings-1630276>
  
APA:
S&P Global Ratings’ Credit Research. (). U.K. Corporate Securitization RAC Bond Co. Class A1 And A2 Notes Assigned 'BBB- (sf)' Ratings May 06, 2016. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/U-K-Corporate-Securitization-RAC-Bond-Co-Class-A1-And-A2-Notes-Assigned-BBB-sf-Ratings-1630276>
  
US$ 150.00
$  £  €
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