Fitch Affirms Two IPFS Funding Series (Business Wire)

Friday October 10, 2:26 pm ET NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed two Indexed Powered Financial Services (IPFS) Funding Series as noted below: --Series 2006-1, LLC $7,837,000 medium-term deferrable interest notes at 'AAA'; --Series 2006-2, LLC $5,969,000 medium-term deferrable interest notes at 'AAA'. The affirmations are based on the high quality of assets in the form of bank certificates of deposit (CDs), available credit enhancement, eligibility criteria for participant banks, and the transaction's sound legal and cash flow structures. Credit enhancement consists of deposit insurance provided by the Federal Deposit Insurance Corporation (FDIC) to each of the CDs and an interest reserve account.... [read full story]