|
|
 |
|
Viewing report
|
|
|
|
63 Ratings Lowered On 12 U.S. CDO Of ABS, 4 Synthetic Deals; $4.394 Bil. In Issuance Affected Mar 08
Standard & Poors, March 2008
Abstract
NEW YORK (Standard & Poor's) March 5, 2008--Standard & Poor's Ratings Services today lowered its ratings on 59 tranches from 12 U.S. cash flow and hybrid collateralized debt obligation (CDO) transactions. We removed 51 of the lowered ratings from CreditWatch with negative implications (see list). The downgraded tranches have a total issuance amount of $4.196 billion. Eleven of the 12 transactions are mezzanine structured finance (SF) CDOs of asset-backed securities (ABS), which are CDOs of ABS collateralized in large part by mezzanine tranches of residential mortgage-backed securities (RMBS) and other SF securities. The other transaction is a CDO of CDO transaction that was collateralized at origination primarily by notes from other CDOs, as well as by tranches from RMBS and...
Companies mentioned in this report are: Bluegrass ABS CDO II Ltd.,UBS AG,Fulton Street CDO, Ltd.,Mulberry Street CDO, Ltd.,MKP CBO III Ltd,Millerton ABS CDO Ltd,Structured Investments Corporation III
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
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.
|
|
|
|
