Fitch: Pembridge Square GIC Provider Novation Not Expected to Impact Ratings

NEW YORK--(BUSINESS WIRE)-- Fitch Ratings has received notice that Pembridge Square Finance Ltd. is seeking to change their Guaranteed Investment Contracts (GIC) provider to KBC Bank NV (London branch) from KBC Bank NV (Belgium). KBC Bank NV's Long-Term Issuer Default Rating is 'A-'/Outlook Positive.

Fitch does not expect this change in and on itself to have any impact on the assigned ratings.

Additional information is available on www.fitchratings.com

Applicable Criteria

Counterparty Criteria for Structured Finance and Covered Bonds (pub. 14 May 2014)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=744158

Global Structured Finance Rating Criteria (pub. 27 Jun 2016)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=883130

Global Surveillance Criteria for Structured Finance CDOs (pub. 05 Jul 2016)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=883201

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View source version on businesswire.com: http://www.businesswire.com/news/home/20160711006110/en/

Fitch Ratings
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Timothy Chan
Associate Director
+1-646-582-4955
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
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Alina Pak, CFA
Senior Director
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or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: [email protected]

Source: Fitch Ratings

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