S&P Affirms North Coast Funding LLC's CP Rating

Apr 26, 2001, 01:00 ET from Standard & Poor's

    NEW YORK, April 26 /PRNewswire/ -- Standard & Poor's affirmed its 'A-1'
 rating on the commercial paper notes of North Coast Funding LLC.
     The rating action follows North Coast's commitment to purchase up to
 $85 million of notes backed by equipment leases originated by a specialty
 finance company.
     The rating on North Coast's commercial paper program is based on liquidity
 support from liquidity providers with short-term ratings commensurate with
 North Coast's 'A-1' rating and sufficient pool-specific credit enhancement.
     North Coast is a hybrid conduit, which issues partially enhanced
 asset-backed commercial paper that is administered by National City Bank
 (single-'A'-plus/Stable/A-1), Standard & Poor's said. -- CreditWire
 
 

SOURCE Standard & Poor's
    NEW YORK, April 26 /PRNewswire/ -- Standard & Poor's affirmed its 'A-1'
 rating on the commercial paper notes of North Coast Funding LLC.
     The rating action follows North Coast's commitment to purchase up to
 $85 million of notes backed by equipment leases originated by a specialty
 finance company.
     The rating on North Coast's commercial paper program is based on liquidity
 support from liquidity providers with short-term ratings commensurate with
 North Coast's 'A-1' rating and sufficient pool-specific credit enhancement.
     North Coast is a hybrid conduit, which issues partially enhanced
 asset-backed commercial paper that is administered by National City Bank
 (single-'A'-plus/Stable/A-1), Standard & Poor's said. -- CreditWire
 
 SOURCE  Standard & Poor's