OREANDA-NEWS. Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the ?143.2 million and RUR864.0 million mortgage-backed fixed- and floating-rate notes (Gazprombank securities series 2006-1) to be issued by Dali Capital PLC, an SPE incorporated as a limited liability company in Ireland.
 
The proceeds from the note issuance will be used to buy three classes of loan notes issued by an SPE incorporated under Luxembourg law.

The Luxembourg SPE, Gazprombank Mortgage Funding 1 S.A. (GZB), will in turn use the proceeds from the sale of the loan notes to purchase a pool of performing mortgage certificates granted to Russian individuals. The certificates are denominated in Russian roubles and are secured over residential properties in Russia.

?143.2 Million and RUR864.0 Million Mortgage-Backed Fixed- And Floating-Rate Notes (Gazprombank Securities Series 2006-1) of Class  A is BBB+, of Class B – BB and of Class C – B.