Moody's upgrades 26 series of notes issued by Pacific Capital International Limited
JPY 577.2 billion of debt securities affected
London, 11 July 2008 -- Moody's have today upgraded 26 Series of notes issued by Pacific Capital
International Limited.
The swap guarantor on these notes is Citigroup Inc. (currently
rated Aa3). The notes are collateralised by Domestic Currency Government
of Japan bonds (currently rated Aa3). These rating actions follow
the upgrade of the Domestic Currency Government of Japan bonds to Aa3
from A1.
Pacific Capital International Limited is a special purpose company incorporated
in the Cayman Islands.
Today's rating actions are as follows:
Pacific Capital International Limited:
(1) Series 2004-01 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Credit Linked Limited Recourse Notes due 2023
Current Rating: A1
Prior Rating: A2
(2) Series 2004-02 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Credit Linked Limited Recourse Notes due 2023
Current Rating: A1
Prior Rating: A2
(3) Series 2004-03 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Callable Notes due 2024
Current Rating: A1
Prior Rating: A2
(4) Series 2004-05 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(5) Series 2004-06 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(6) Series 2004-07 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(7) Series 2004-08 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(8) Series 2004-09 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(9) Series 2005-01 JPY 21,300,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(10) Series 2005-02 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Callable Notes due 2024
Current Rating: A1
Prior Rating: A2
(11) Series 2005-03 JPY 20,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2024
Current Rating: A1
Prior Rating: A2
(12) Series 2005-04 JPY 10,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(13) Series 2005-05 JPY 15,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(14) Series 2005-08 JPY 14,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(15) Series 2005-09 JPY 14,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(16) Series 2005-11 JPY 15,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(17) Series 2005-12 JPY 15,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(18) Series 2005-14 JPY 19,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(19) Series 2005-15 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Secured Callable Notes due 2025
Current Rating: A1
Prior Rating: A2
(20) Series 2005-16 JPY 33,400,000,000 Japanese
Government Bonds Repackaged Fixed Rate Secured Callable Notes due 2025
Current Rating: A1
Prior Rating: A2
(21) Series 2006-03 JPY 50,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(22) Series 2006-04 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2025
Current Rating: A1
Prior Rating: A2
(23) Series 2006-05 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2026
Current Rating: A1
Prior Rating: A2
(24) Series 2006-06 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2026
Current Rating: A1
Prior Rating: A2
(25) Series 2006-07 JPY 25,000,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2026
Current Rating: A1
Prior Rating: A2
(26) Series 2006-09 JPY 32,500,000,000 Japanese
Government Bonds Repackaged Fixed Rate Reverse Dual Currency Secured Notes
due 2026
Current Rating: A1
Prior Rating: A2
London
Nadika Jouy
Analyst
Structured Finance Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454
London
Katherine Frey
Managing Director
Structured Finance Group
Moody's Investors Service Ltd.
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454