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Various Rating Actions Taken On 7 CFOs Following Performance Concerns And Madoff Implications Dec 08 Product Image

Various Rating Actions Taken On 7 CFOs Following Performance Concerns And Madoff Implications Dec 08

  • Published: December 2008
  • Standard & Poors

FEATURED COMPANIES

  • Antarctica CFO I Limited
  • MORE

Abstract
NEW YORK (Standard & Poor's) Dec. 16, 2008--Standard & Poor's Ratings Services today took the following rating actions on seven collateralized fund obligation (CFO) transactions: -- We lowered three ratings and placed them on CreditWatch with negative implications; -- We lowered two ratings and removed them from CreditWatch negative, where they were placed July 16, 2008; -- We placed 23 ratings on CreditWatch negative; -- We kept one rating on CreditWatch negative; and -- We affirmed one rating (see list). The affected tranches have an issuance amount of approximately $2.28 billion. CFO transactions are securitizations of equity shares issued by vehicles that invest in several hedge funds following predefined investment and diversification guidelines (often referred to as "funds of funds")....

Companies mentioned in this report are:
- Antarctica CFO I Limited

Action: Affirmed
Action: Downgraded
Action: On CreditWatch:Negative
Action: Removed From CreditWatch

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- Antarctica CFO I Limited

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