In its analysis of structured finance transactions Scope Ratings adjusts its analytical assumptions according to the applicability of certain legal concepts to a transaction. The report published today by Scope elaborates on the legal aspects involved in structured finance transactions and highlights possible legal risks.

Scope examines the legal concepts applicable to three particular key elements: first the assets of the transaction, second the issuer i.e. the Special Purpose Vehicle (SPV) issuing the rated debt, and third, the transaction documents. It stresses the need for robust expert legal and tax opinions to support the analysis of these elements.

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