| Autor: |
Maugüé, Pierre, Rosekrans, Christopher, Mocanu, Alexandru |
| Předmět: |
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| Zdroj: |
International Financial Law Review; Jul2009, Vol. 27 Issue 7, p44-45, 2p, 1 Color Photograph |
| Abstrakt: |
The article presents information on dealing with consequences credit ratings downgrades. Once the credit rating of the issuing bank has been downgraded below the threshold level, borrowers can cure the resulting default by substituting the letter of credit, it can obtain a waiver of the default, or it can accelerate the underlying receivable and draw on the letter of credit. To anticipate downgrades and to think creatively in dealing with their consequences is stated to be important. It is stated that if the credit rating of the issuing bank deteriorates further, the waiver alternative may only be a temporary fix. |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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