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ABACUS 2006-NS2 Ltd. Rating Lowered On Class N To 'D (sf)'
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.
Abstract
NEW YORK (Standard & Poor's) May 5, 2011--Standard & Poor's Ratings Services today lowered its rating on the class N notes issued by ABACUS 2006-NS2 Ltd., a collateralized debt obligation (CDO) transaction backed by commercial mortgage-backed securities (CMBS), to 'D (sf)' from 'CCC- (sf)'. The downgrade follows a number of write-downs in the transaction's underlying reference portfolio that caused the tranche to incur a principal loss. RELATED CRITERIA AND RESEARCH Revised Methodologies And Assumptions For Global Synthetic CDO Surveillance, published Sept. 30, 2010....
Companies mentioned in this report are: ABACUS 2006-NS2 Ltd.
Action: Downgraded
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