Standard&Poor's Ratings Services has assigned credit ratings to the commercial mortgage-backed floating-rate notes issued by GEMINI (ECLIPSE 2006-3) PLC, a public company with limited liability incorporated in England and Wales. The issuer used the net proceeds from the note issuance to purchase from the seller a loan, secured by 36 commercial properties in England, Wales, and Scotland. Barclays Bank PLC originated the loan in August 2006 for a 10-year term. There is a subordinated junior loan outside the securitization of £120.4 million. Payments on the junior loan are structured to be subordinated to payments on the senior loan. GEMINI (ECLIPSE 2006-3) is the seventh transaction in the ECLIPSE program. It uses the same transaction structure as the previous
