2008-10-10 21:42:01 -
- Fitch Ratings has affirmed two Indexed Powered Financial Services (IPFS) Funding Series as noted below:
--Series 2006-1, LLC $7,837,000 medium-term deferrable interest notes at 'AAA';
--Series 2006-2, LLC $5,969,000 medium-term deferrable interest notes at 'AAA'.
The affirmations are based on the high quality of assets in the form of bank certificates of deposit (CDs), available credit
enhancement, eligibility criteria for participant banks, and the transaction's sound legal and cash flow structures.
Credit enhancement consists of deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC) to each of the CDs and an interest reserve account.
SFPI, LLC d/b/a Indexed Powered Financial Services (IPFS) is a privately owned company that originates the Capital Markets Certificate of Deposit Program (CMCD), which was launched in August 2005.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
Fitch Ratings, New York
David Petu, +1-212-908-0280
Media Relations:
Sandro Scenga, +1-212-908-0278