ECB deadline for second ratings approval to hit ABS

25 Feb 2011

Structured finance transaction sponsors are racing to line up a second assessment by the credit ratings agencies ahead of a March 1 deadline set by the European Central Bank for securities to meet repo-eligibility criteria. However, a large number of transactions could shortly become ineligible unless the ECB relaxes its deadline.

The ECB has said that ABS presented as Eurosystem collateral will need two ratings from a qualifying agency by March 1, with the lower of the two ratings at least single A.

"Perhaps only one in five of the second rating requests we’ve had will not be ready for ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.