Moody's присвоило рейтинги нотам дочерней компании АО "Банк ТуранАлем" (Казахстан) ВТА DPR Finance Company

/REUTERS, 04.10.07, заголовок KASE/ - Международное рейтинговое агентство Moody's присвоило рейтинги четырем классам облигаций банка ТуранАлем с плавающей ставкой и погашением в 2015 году, выпускаемым в рамках секъюритизации входящих платежей, сообщило агентство в четверг. Облигациям класса 2007-A на $200 миллионов, облигациям класса 2007-B на $200 миллионов и облигациям класса 2007-C на $200 миллионов присвоены рейтинги "Ааа", облигациям класса 2007-D на $200 миллионов присвоен рейтинг "Ваа3". Первые три класса бумаг обеспечены гарантиями специализированных страховых компаний. Ниже приводится оригинальный текст сообщения агентства Moody's на английском языке. Moody's assigns definitive ratings to 4 classes of asset backed securities issued by BTA DPR Finance Company US$750,000,000 of ABS rated London, 04 October 2007 - Moody's Investors Service has assigned the following definitive ratings to four classes of Notes to be issued by BTA DPR Finance Company: - Aaa to US$ 200,000,000 Class 2007-A Asset -Backed Securities Floating Rate Notes Due 2015 - Aaa to US$ 200,000,000 Class 2007-B Asset -Backed Securities Floating Rate Notes Due 2015 - Aaa to US$ 200,000,000 Class 2007-C Asset -Backed Securities Floating Rate Notes Due 2015 - Baa3 to US$ 150,000,000 Class 2007-D Asset -Backed Securities Floating Rate Notes Due 2015 The issuance is the first under the programme. Moody's assigned provisional ratings on the 17 July 2007. The definitive Aaa ratings are based primarily on the financial guarantee insurance policies to be issued by Financial Guaranty Insurance Company ("FGIC"), MBIA Insurance Corporation ("MBIA") and Ambac Assurance Corporation ("Ambac") respectively in relation to the Series 2007-A, Series 2007-B and Series 2007-C Notes. Moody's rates FGIC's, MBIA's and Ambac's insurance financial strength Aaa. Moody's has also determined that the Notes represent a Baa3 risk to FGIC, MBIA and Ambac. Moody's has also assigned a Baa3 risk to the unwrapped Series 2007-D Notes. According to Moody's, the ratings take into account, amongst others, the historical volumes generated by Bank TuranAlem's electronic remittance business, the high ratio of remittance cash flows to maximum scheduled debt service, the robust credit quality of Bank TuranAlem's US correspondent banks that are expected to commit to deposit all remittance-related cash flows to the concentration and series collection account, and, structural and legal protections incorporated into the transaction, including required minimum debt service coverage ratios, which, if not met, trigger the early amortisation of the Notes. Several structural protections are also incorporated in the transaction which will reduce the likelihood of sovereign interference in the cashflows from the underlying future receivables. The ratings also factor in the relatively limited amount of historical data available and strong volatility of the flows though this is mitigated by a high debt service coverage ratio at closing and a positive trend in the flows. Given the Kazakh economy's reliance on commodity exports, flow volumes are largely correlated with commodity prices and therefore subject to the same volatility. The above ratings address the timely payment of interest and principal on the Notes during the life of the transaction and address only the credit risks associated with the transaction. Other non-credit risks have not been addressed, but may have a significant effect on yield to investors. To obtain a copy of Moody's Pre-Sale report on this transaction, please visit Moody's website on www.moodys.com or contact our Client Service Desk in London (+44-20-7772 5454). London Benedicte Pfister Managing Director Structured Finance Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 London Virginie Marraud des Grottes Associate Analyst Structured Finance Group Moody's Investors Service Ltd. JOURNALISTS: 44 20 7772 5456 SUBSCRIBERS: 44 20 7772 5454 [2007-10-05]