- Language: English
- Published: January 2013
ICE 1: EM CLO Ltd. Ratings Lowered On Four Classes; Three Ratings Affirmed
- ID: 1721651
- April 2011
- Standard & Poors
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.
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.