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RPT-Fitch: No rating impact on VCL Master S.A. Compartment 1 from increase of existing notes
August 27, 2013 / 9:04 AM / 4 years ago

RPT-Fitch: No rating impact on VCL Master S.A. Compartment 1 from increase of existing notes

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Aug 27 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings says that VCL Master S.A.'s Compartment 1 notes' ratings will not be affected by the increase in the amounts of the existing revolving series of notes to a total of EUR1.45bn. Following the increase, the total amount of series (including the amortising series) rises to EUR1.47bn. Fitch notes that the revolving series amounts will be increased effective 26 August 2013.

The volumes of the newly issued notes are as follows:

Series 2010-1: EUR17,400,000, resulting in an aggregate total of EUR201,600,000

Series 2010-2: EUR17,400,000, resulting in an aggregate total of EUR201,600,000

Series 2010-4: EUR28,900,000, resulting in an aggregate total of EUR334,400,000

Series 2011-2: EUR5,800,000, resulting in an aggregate total of EUR82,100,000

Series 2012-1: EUR11,600,000, resulting in an aggregate total of EUR125,700,000

Series 2012-2: EUR8,700,000, resulting in an aggregate total of EUR94,300,000

Series 2012-3: EUR8,700,000, resulting in an aggregate total of EUR94,300,000

Series 2012-4: EUR20,300,000, resulting in an aggregate total of EUR223,000,000

Series 2013-1: EUR8,700,000, resulting in an aggregate total of EUR93,700,000

Following the tap issuance, the total amounts of the series still do not exceed the maximum issuance amounts of the series established in the programme (see Fitch Assigns 'AAAsf' to VCL Master S.A.'s Compartment 1 Notes; Outlook Stable, dated 26 November 2012, available on www.fitchratings.com).

Further transaction research is available at www.fitchratings.com.

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