TEXT-Fitch:Global senior loan Index Fund 1 B.V.'s ratings unaffected by swap novation
(The following statement was released by the rating agency)
Oct 12 - Fitch Ratings says that Global Senior Loan Index Fund 1 B.V.'s ratings will not be affected by the novation of the currency swap and currency option agreements.
The swap and option agreements with Banque AIG and guaranteed by American International Group Inc. ('BBB+'/Stable) have been novated to Deutsche Bank AG ('A+'/Stable/'F1+'). The terms of these new agreements are almost identical to the previous terms. In Fitch's view, the minor differences between the agreements are not material enough to impact the ratings of the transaction.
The notes are rated as follows: Class A1: 'AAAsf'; Outlook Stable Class A2: 'AAsf'; Outlook Stable Fund Notes: 'BBsf'; Outlook Stable