Mont Blanc Capital Corp. (As Of June 2014)

Transcription

1 ABCP Portfolio Data: Mont Blanc Capital Corp. (As Of June 2014) Primary Credit Analyst: Andrea Quirk, London (44) ; Surveillance Credit Analyst: Thomas Cho, London (44) ; JULY 31,

2 ABCP Portfolio Data: Mont Blanc Capital Corp. (As Of June 2014) The conduit administrator has provided portfolio data as part of Standard & Poor's Ratings Services' ABCP conduit surveillance process. The data for all ABCP programs is presented in a standardized format. For descriptions of abbreviated terms, please refer to the ABCP Table Definitions table at the end of this article. 1. Conduit Profile Description Conduit name Conduit type Support type* Initial rating date Sponsor Administrator Aggregate financing commitment (mil. $) ABCP outstandings (mil. $) Initial ABCP rating Current ABCP rating Portfolio data report date Date conduit report received by S&P Reported PWCE (mil. $) Conduit information Mont Blanc Capital Corp. Multi-Seller Partial 21-Mar-94 ING Bank N.V. ING Bank N.V. US$1,774 US$1,628 A-1+ A-1 (sf) Jun Jul-14 US$300 *Represents whether the program is "fully credit enhanced" or "partially credit enhanced" 2. Conduit Overview Jun-2014 May-2014 Apr-2014 Mar-2014 Feb-2014 Jan-2014 No. of transactions USCP (mil. $) 1,316 1,517 1,521 1,523 1,577 1,602 ECP (mil. $) BT (mil. $) Total ABCP outstandings (mil. $) 1,628 1,920 1,920 1,894 1,934 1,963 Aggregate financing commitment (mil. $) 1,774 2,115 2,157 2,160 2,217 2,215 Capacity utilization (%) JULY 31,

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4 3. Conduit-Level Credit Support Jun-2014 May-2014 Apr-2014 Mar-2014 Feb-2014 Jan-2014 ABCP outstanding (mil. $) 1,628 1,920 1,920 1,894 1,934 1,963 Reported PWCE (mil. $) Reported PWCE support as % of ABCP outstanding Required PWCE support (%) Rating-Dependent Support Provider As Of June 2014 The most recent list of rating-dependent support providers for this conduit can be found within the "Participants" tab under the "Conduit Profile" on Global Credit Portal 5. Collateral Concentration As Of June 2014 Collateral type Invested amount (mil. $) % of total invested amount Consumer Finance Receivables Trade Receivables Credit Card Receivables Diversified Payment Rights/ Cash Equivalent JULY 31,

5 5. Collateral Concentration As Of June 2014 (cont.) Leases CDO 0 0 Total 1, Portfolio Concentration Trends Jun-2014 May-2014 Apr-2014 Mar-2014 Feb-2014 Jan-2014 Total invested amount 1,819 2,102 2,134 2,115 2,160 2,174 Largest transaction invested amount (mil. $) Largest transaction collateral type Largest transaction as % of total invested amount Top three transactions as % of total invested amount Top five transactions as % of total invested amount Top Five Transactions By Invested Amount As Of June 2014 Collateral type Invested amount (mil. $) % of total invested amount Credit Card Receivables Consumer Finance Receivables Cash Equivalent Trade Receivables Total 1, Portfolio Activity Year-To-Date 2014 Collateral type Financing limit (mil. $) Invested amount at entry date (mil. $) Entry/exit date Transactions entering Total 0 0 Transactions exiting Trade Receivables 89 N/A Jan 2014 Diversified Payment Rights / Future Flows 20 N/A Mar 2014 Diversified Payment Rights/ 9 N/A May 2014 CDO 17 N/A Jun N/A Jun 2014 Trade Receivables 44 N/A Jun 2014 Trade Receivables 117 N/A Jun 2014 Total 461 N/A Net Change (461) N/A *The financing limit is the last recorded amount before exit. The outstanding amount is N/A. JULY 31,

6 9. Geographic Distribution Of Portfolio Jurisdiction of assets Total invested amount (mil. $) Total invested amount (%) BELGIUM THE NETHERLANDS KOREA U.S TURKEY U.K FRANCE Total 1, Portfolio Composition As Of June 2014 Collateral type Entry date Financing limit (mil. $) Invested amount (mil. $) Utilization (Inv Amount/Fin Limit) (%) CDO 0 Cash Equivalent Consumer Finance Receivables Consumer Finance Receivables Consumer Finance Receivables Aggregate credit support (%)* Jun Jun Jun Credit Card Receivables Jun Diversified Payment Rights/ Diversified Payment Rights/ May Leases Oct Jun Jun Trade Receivables May Trade Receivables May Trade Receivables Jul Trade Receivables Sep Trade Receivables Sep *Includes internal and external credit support 11. ABCP Table Definitions Code ABCP BT ECP N/A PWCE USCP Definition Asset-backed commercial paper Billets de Tresorerie European commercial paper Not applicable Program-wide credit enhancement U.S. commercial paper JULY 31,

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