S&P dismisses worries of SCIP disposal delay

31 Jul 2003

The Republic of Italy's landmark Societá di Cartolarizzazione Immobili Pubblici 2002 (SCIP 2) has come under scrutiny recently as a result of slower than expected disposals.

The property securitisation, which was closed in December 2002, was groundbreaking in terms of size - pooling Eu7.8bn of collateral to issue some Eu6.6bn of bonds, which ...

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