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G&M Finance 'twA'Rating On NT$1.19bn Certificates Withdrawn After Full Redemption
| Analyst |
Joseph Cheng
Clementine Kiang |
Taiwan Ratings Corp.
said today that it had withdrawn its 'twA' rating on G&M Finance Ltd.'s
NT$1.19 billion excess spread right certificates. The certificates were
issued by Cosmos Bank George & Mary Cash Card 2003 Securitization Special
Purpose Trust in 2003 and were secured by a portfolio of Taiwan dollar-denominated
cash card receivables originated by Cosmos Bank.
The
withdrawal follows the full redemption of the certificates, which occurred
on the payment date of April 1, 2005.
Analytic services provided by Taiwan Ratings Corporation (TRC) are the result of separate activities designed to preserve the independence and objectivity of ratings opinions. The credit ratings and observations contained herein are solely statements of opinion and not statements of fact or recommendations to purchase, hold, or sell any securities or make any other investment decisions. Accordingly, any user of the information contained herein should not rely on any credit rating or other opinion contained herein in making any investment decision. Ratings are based on information received by TRC. TRC has established policies and procedures to maintain the confidentiality of non-public information received during the ratings process.
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