RPT-Fitch: No Rating Impact on VCL Master S.A. Compartment 1 from Increase of Existing Notes

Tue May 27, 2014 4:16am EDT

Related Topics

(Repeat for additional subscribers)

May 27 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings says that VCL Master S.A.'s Compartment 1 notes' ratings will not be affected by the increase in the amounts of the existing revolving series of notes to a total of EUR1.21bn. Fitch notes that the revolving series amounts will be increased effective today.

The volumes of the newly issued notes are as follows:

Series 2010-1: EUR11,300,000, resulting in an aggregate total of EUR150,500,000

Series 2010-2: EUR11,300,000, resulting in an aggregate total of EUR150,500,000

Series 2010-4: EUR22,800,000, resulting in an aggregate total of EUR283,700,000

Series 2011-2: EUR3,700,000, resulting in an aggregate total of EUR53,200,000

Series 2012-1: EUR7,700,000, resulting in an aggregate total of EUR99,200,000

Series 2012-2: EUR5,900,000, resulting in an aggregate total of EUR74,500,000

Series 2012-3: EUR5,900,000, resulting in an aggregate total of EUR74,500,000

Series 2012-4: EUR11,300,000, resulting in an aggregate total of EUR153,700,000

Series 2013-1: EUR5,900,000, resulting in an aggregate total of EUR74,500,000

Series 2013-2: EUR7,500,000, resulting in an aggregate total of EUR100,000,000

Following the tap issuance, the total amounts of the series still do not exceed the maximum issuance amounts of the series established in the programme (see "Fitch Affirms VCL Master S.A.'s Compartment 1 Notes; Assigns New Series 'AAAsf'", dated 25 September 2013, at www.fitchratings.com).

Further transaction research is available at www.fitchratings.com.

FILED UNDER: