Riftstone Trust Series 2016-8 TMCC Certificates Assigned Rating

Stocks and Financial Services Press Releases Wednesday March 8, 2017 08:50
--8 Mar--S&P Global Ratings

NEW YORK (S&P Global Ratings) March 7, 2017--S&P Global Ratings today assignedits 'AA-' rating to Riftstone Trust Series 2016-8 TMCC (the trust's) $25million trust certificates series 2016-8 TMCC due April 10, 2018.

The 'AA-' rating assigned to Riftstone Trust Series 2016-8 TMCC's (thetrust's) $25 million trust certificates series 2016-8 TMCC due April 10, 2018,reflects our opinion of the likelihood that the trust will have sufficientassets to pay timely interest and principal when due on the certificates.

These assets include the underlying securities, which comprise either thefloating-rate diversity and inclusion medium-term notes series B, due April 6,2018, issued by Toyota Motor Credit Corp.('AA-'; TMCC notes) or U.S. Treasuryseparate trading of registered interest and principal securities (STRIPS) dueMarch 31, 2018 ('AA+'). The STRIPS could replace the TMCC notes at the optionof Wells Fargo Bank N.A. (AA-/Negative/A-1+) upon an additional terminationevent described in the option agreement's schedule, which Wells Fargo BankN.A. entered into with the trust.

Our rating on the certificates depends on the lower of our ratings on theunderlying securities and our long-term issuer credit rating on the optionagreement counterparty, Wells Fargo Bank N.A. Based on our analysis, webelieve the trust's assets support the full and timely payment of allobligations on the certificates except in certain circumstances as describedin the Structural Review section below.

Latest Press Release

Photo Release: CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

Tengku Dato' Sri Zafrul Aziz, Group CEO of CIMB Group (right), and Brad Garlinghouse, Ripple CEO (left) commemorating the strategic collaboration between CIMB Group and Ripple to power instant payments across ASEAN at the Singapore FinTech festival 2018...

CIMB Group Joins RippleNet to Power Instant Payments Across ASEAN

CIMB is one of the first banks to leverage blockchain technology to tap into region's USD120 billion remittance business CIMB Group ("CIMB" or "the Group") and Ripple have entered into a strategic collaboration to enable instant cross border payments...

Fitch Rates EXIM#s USD Senior Notes #BBB+(EXP)#

Fitch Ratings has assigned an expected rating of 'BBB+(EXP)' to Export-Import Bank of Thailand's (EXIM, BBB+/Stable) five-year senior unsecured notes of up to USD300 million. The notes will be issued under the bank's USD1.5 billion medium-term note (MTN)...

KTC joins hands with partners to launch new payment method Garmin Pay.

Mrs. Pittaya Vorapanyasakul (right center), Executive Vice President - Credit Card Business, "KTC" or Krungthai Card Public Company Limited together with Mr. Krairop Luang U-Thai (left center), General Manager, GIS Company Limited, Miss Aileen Chew...

Photo Release: Newly redesigned K-Cash Connect Plus website to facilitate business customers

Mr. Silawat Wantivisat, KBank Executive Vice President, introduced the newly redesigned K-Cash Connect Plus website, which is more user-friendly for business customers to facilitate their online financial transactions and data verification with greater...

Related Topics