ICE 1: EM CLO Ltd. Ratings Lowered On Four Classes; Three Ratings Affirmed
- ID: 1721651
- April 2011
- Standard & Poors
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Research type: News
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OVERVIEW We lowered our ratings on the class A-2, A-3, B, and C notes from ICE 1:EM CLO Ltd., and removed them from CreditWatch with negative implications. We affirmed our ratings on class A-1D, A-1R, and D notes and removed them from CreditWatch negative. The downgrades reflect the application of our criteria for rating corporate backed CDO transactions. The affirmations reflect our view that the tranches have credit support levels that are consistent with the current ratings. The rating actions also reflect our updated criteria for assessing counterparty risk in structured finance transactions. NEW YORK (Standard & Poor's) April 29, 2011--Standard & Poor's Ratings Services today lowered its ratings on the class A-2, A-3, B, and C notes from ICE...
Companies mentioned in this report are: ICE 1: EM CLO LTd.