ABCP Portfolio Data: Mont Blanc Capital Corp. (As Of June 2014) Primary Credit Analyst: Andrea Quirk, London (44) 20-7176-3736; andrea.quirk@standardandpoors.com Surveillance Credit Analyst: Thomas Cho, London (44) 20-7176-3896; thomas.cho@standardandpoors.com WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 31, 2014 1
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-14 28-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 12 16 17 17 18 18 USCP (mil. $) 1,316 1,517 1,521 1,523 1,577 1,602 ECP (mil. $) 312 403 399 371 357 361 BT (mil. $) 0 0 0 0 0 0 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 (%) 91.8 90.8 89 87.7 87.2 88.7 WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 31, 2014 2
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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. $) 300 300 300 300 300 300 Reported PWCE support as % of ABCP outstanding 18.4 15.6 15.6 15.8 15.5 15.3 Required PWCE support (%) 0.0 0.0 0.0 0.0 0.0 0.0 4. 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 374 26.4 Consumer Finance Receivables 348 24.6 Trade Receivables 306 21.6 Credit Card Receivables 300 21.2 Diversified Payment Rights/ 201 14.2 Cash Equivalent 201 14.2 WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 31, 2014 4
5. Collateral Concentration As Of June 2014 (cont.) Leases 89 6.3 CDO 0 0 Total 1,819 128.4 6. 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 374 373 393 391 391 395 26.4 21.9 22.7 23.1 22.5 22.5 66.3 55.0 55.2 56.4 55.0 54.6 91.2 76.5 76.5 78.6 77.6 76.8 7. Top Five Transactions By Invested Amount As Of June 2014 Collateral type Invested amount (mil. $) % of total invested amount 374 26.4 Credit Card Receivables 300 21.2 Consumer Finance Receivables 264 18.7 Cash Equivalent 201 14.2 Trade Receivables 152 10.7 Total 1,292 91.2 8. 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 2014 165 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. WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 31, 2014 5
9. Geographic Distribution Of Portfolio Jurisdiction of assets Total invested amount (mil. $) Total invested amount (%) BELGIUM 457 32.3 THE NETHERLANDS 399 28.2 KOREA 300 21.2 U.S. 201 14.2 TURKEY 201 14.2 U.K. 152 10.7 FRANCE 108 7.6 Total 1,819 128.4 10. 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 201 0 Consumer Finance Receivables Consumer Finance Receivables Consumer Finance Receivables Aggregate credit support (%)* Jun 2008 307 264 86.1 14.3 Jun 2011 40 40 100 5 Jun 2011 43 43 100 5 Credit Card Receivables Jun 2011 300 300 100 25 Diversified Payment Rights/ Diversified Payment Rights/ 70 70 100 100 May 2007 132 132 100 100 Leases Oct 2013 89 89 100 13.5 Jun 2008 0 Jun 2011 374 374 100 11 Trade Receivables May 2010 0 Trade Receivables May 2010 0 Trade Receivables Jul 2010 68 46 66.9 22.4 Trade Receivables Sep 2010 164 108 65.9 9.8 Trade Receivables Sep 2011 188 152 81.1 15 *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 WWW.STANDARDANDPOORS.COM/RATINGSDIRECT JULY 31, 2014 6
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