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ChesterAsstRecs2003C (80YA)

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Friday 12 December, 2008

ChesterAsstRecs2003C

Fitch Ratings

RNS Number : 0470K
Chester Asset Rec. Deal. 2003-C PLC
12 December 2008
 

Issuer: Chester Asset Receivables Dealings 2003-C PLC (the 'Issuer')

Date: 12 December 2008

Notification of downgrade by Fitch Ratings Ltd of ratings of certain notes issued by the Issuer

We have become aware that Fitch Ratings Ltd has downgraded the ratings of 7 classes of asset-backed notes issued under the UK Receivables Trust II, the ratings of the Class C asset-backed notes issued by Chester Asset Receivables Dealings No.11 PLC and the ratings of the Class C asset-backed notes issued by Chester Asset Receivables Dealings No.12 PLC under the UK Receivables Trust. A complete list of rating actions is below. 

Under UK Receivables Trust II: 

Chester Asset Receivables Dealings II 2001-B series:

Class A GBP220.0m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP12.5m notes, affirmed at 'A+', Outlook Stable.

Class C GBP17.5m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

Chester Asset Receivables Dealings II 2002-A series:

Class A GBP439.1m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP25.1m notes, affirmed at 'A+', Outlook Stable.

Class C GBP35.1m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

Chester Asset Receivables Dealings II 2003-B series:

Class A GBP220.0m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP12.5m notes, affirmed at 'A+', Outlook Stable.

Class C GBP17.5m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

Chester Asset Receivables Dealings II 2003-C series:

Class A GBP439.5m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP25.1m notes, affirmed at 'A+', Outlook Stable.

Class C GBP35.0m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

Chester Asset Receivables Dealings II 2004-1 series:

Class A GBP440.0m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP25.0m notes, affirmed at 'A+', Outlook Stable.

Class C GBP35.0m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

Chester Asset Receivables Dealings II De-linked series:

2004-A1 GBP300.0m notes, affirmed at 'AAA', Outlook Stable.

2004-B1 GBP83.5m notes, affirmed at 'A+', Outlook Stable.

2004-C1 GBP116.9m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

2004-A2 GBP250.0m notes, affirmed at 'AAA', Outlook Stable.

2006-A1 GBP250.0m notes, affirmed at 'AAA', Outlook Stable.

2006-B1 GBP50.0m notes, affirmed at 'A+', Outlook Stable.

2006-C1 GBP70.0m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

2008-A1 GBP261.9m notes, affirmed at 'AAA', Outlook Stable.

2008-A2 GBP300.0m notes, affirmed at 'AAA', Outlook Stable.

Under UK Receivables Trust: 

CARDS No.11 (2000-1 series):

Class A GBP438.3m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP20.0m notes, affirmed at 'A+', Outlook Stable.

Class C GBP40.0m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

CARDS No.12 (2000-2 series):

Class A GBP264.0m notes, affirmed at 'AAA', Outlook Stable.

Class B GBP12.0m notes, affirmed at 'A+', Outlook Stable.

Class C GBP24.0m notes, downgraded to 'BBB-' (BBB minus) from 'BBB', Outlook Negative.

Further information is available on http://www.fitchratings.com/



This information is provided by RNS
The company news service from the London Stock Exchange
 
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