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Ratings Lowered In Four European ABS Securitizations After Assured Guaranty Downgrade Oct 10
Standard & Poors, October 2010
OVERVIEW On Oct. 25, we lowered the ratings on Assured Guaranty and related subsidiaries. Assured Guaranty is a monoline insurer in four European ABS transactions. Consequently, we have taken commensurate rating actions in these four transactions. The lower ratings are the higher of the Assured Guaranty's rating and the underlying rating. LONDON (Standard & Poor's) Oct. 29, 2010--Standard & Poor's Ratings Services today lowered its credit ratings on several tranches in four European asset-backed securities (ABS) transactions following the downgrade of Assured Guaranty Corp. and its related entities (see ratings list below). Assured Guaranty provides financial guarantees for the payment of the underlying debt obligations in these four securitizations. In each case, the rating on the class of notes is...
Companies mentioned in this report are: Channel Link Enterprises Finance PLC,Vita Capital III Ltd.,Posillipo Finance II S.r.l.,FCC Surf
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.
Channel Link Enterprises Finance PLC,Vita Capital III Ltd.,Posillipo Finance II S.r.l.,FCC Surf