(The following statement was released by the rating agency)
Jan 14 - Fitch Ratings has published a new issue report on Turin Capital Leasing Fundo de Investimento em Direitos Creditorios (Turin FIDC).
On Dec. 28, 2012, Fitch affirmed the BRL46,690,000 senior cotas as follows:
—Local currency rating at ‘A-sf’; Outlook Stable;
—Brazilian national scale rating at ‘AAAsf(bra)’; Outlook Stable.
The transaction is backed by a static pool of finance leases originated by Banco CNH Capital S.A. (Banco CNH) to companies and individuals throughout Brazil for heavy equipment. The FIDC consists of a sequential-pay structure of senior cotas and unrated junior cotas with the legal final maturity in January 2014.
Additional information is available to all investors on Fitch’s web site ‘www.fitchratings.com’.
Link to Fitch Ratings’ Report: Turin Capital Leasing FIDC