RPT-Fitch downgrades Entry Funding No. 1 PLC; withdraws ratings
Oct 14 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has downgraded and withdrawn Entry Funding No. 1 PLC's ratings, as follows:
EUR6.6m class C notes (ISIN: XS0277614888): downgraded to 'Dsf' from 'Csf'; assigned a Recovery Estimate (RE) of 'RE0%'; withdrawn
EUR10.0m class D notes (ISIN: XS0277614961): downgraded to 'Dsf' from 'Csf'; assigned 'RE0%'; withdrawn
EUR11.0m class E notes (ISIN: XS0277615000): downgraded to 'Dsf' from 'Csf'; assigned 'RE0%'; withdrawn
EUR5.0m class F notes (ISIN: XS0277615265): downgraded to 'Dsf' from 'Csf'; assigned 'RE0%'; withdrawn
The downgrades of the ratings to 'Dsf' and the RE0% reflect the fact that the notes were not fully repaid by their legal final maturity on 28 September 2013. Hence, the noteholders will not receive any additional payments.
The class A and B notes were paid in full. Of the EUR8m class C initial principal at closing, only EUR1.4m was repaid by legal final maturity. The class D, E and F notes did not receive any principal repayments.
Fitch regards these notes as defaulted due to their failure to make principal payments in full by their legal final maturity. The withdrawal of the ratings follows the tranches' default.
- Atheists face death in 13 countries, global discrimination: study
- South Africa admits mistake over 'schizophrenic' Mandela signer |
- Missouri executes man for killing good Samaritan motorist in 1994
- Thai military chief rebuffs meeting request in blow to protesters |
- Apple scores legal victory over Samsung in South Korea