S&P EMEA CDO Ratings Placed On CreditWatch Negative In Connection With Revised SF CDO Criteria Mar 12
- Language: English
- Published: March 2012
- Region: EMEA
LONDON (Standard & Poor's) March 29, 2005Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the senior and mezzanine deferrable-interest floating-rate notes to be issued by Eurocastle CDO II PLC and Eurocastle CDO III PLC, two SPEs (see list below). Eurocastle CDO II and III are separate issuers and noteholders of one issuer will have no recourse to the assets of the other. The two transactions are arbitrage, managed cash flow CDOs of ABS. The issuers will issue five classes of rated notes each and use the proceeds, plus the proceeds from the unrated equity pieces, to purchase the portfolios. It is expected that Eurocastle CDO II will have acquired approximately 73% of its...
Companies mentioned in this report are:
- Eurocastle CDO II PLC
Action: Preliminary Rating
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Research type: News
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