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BTC SPV (Cayman) 2001-1 Ltd. Class A-4 Through A-18 Notes Series 1 Ratings Lowered To 'BB+'; Remain On Watch Negative May 09
Standard & Poors, May 2009
Abstract
NEW YORK (Standard & Poor's) May 29, 2009--Standard & Poor's Ratings Services today lowered its ratings on BTC SPV (Cayman) 2001-1 Ltd.'s class A-4 through A-18 zero-coupon notes series 1 to 'BB+' from 'A'. The ratings remain on CreditWatch with negative implications, where they were placed April 27, 2009 (see list). The ratings on the class A-4 through A-18 notes are dependent on the lower of the ratings on the reference obligations: Ansonia CDO 2006-1 Ltd.'s class A-FX notes (BB+/Watch Neg), DB Master Finance LLC's class A-2 notes ('A'), and NovaStar Mortgage Funding Trust Series 2007-1's class A-2A2 certificates ('AAA'); and the ratings on the collateral securities: U.S. Treasury bonds ('AAA') and Freddie Mac bonds ('AAA'). Today's rating actions reflect...
Companies mentioned in this report are: BTC SPV (CAYMAN) 2001-1 LIMITED,Freddie Mac,Ansonia CDO 2006-1 LTD.,NovaStar Mortgage Funding Trust, Series 2007-1
Action: Downgraded
Action: On CreditWatch:Negative
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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