Ratings On 22 Asia-Pacific Synthetic CDO Tranches Placed On CreditWatch Negative; Five Tranches Affirmed Jul 09
- ID: 1782438
- July 2009
- Standard & Poors
HONG KONG (Standard & Poor's) July 9, 2009Standard & Poor's Ratings Services today placed the ratings on 22 tranches of Asia-Pacific (excluding Japan) synthetic collateralized debt obligations (CDOs) on CreditWatch with negative implications. In addition, the ratings on five other CDO tranches were taken off CreditWatch negative and affirmed. The 22 transactions in the list below have been placed on CreditWatch negative due to a fall in their SROC (synthetic rated overcollateralization) levels to below 100% at the current rating level in the analysis as of end-June 2009. This reflects the negative rating migration within the portfolios. Deal Name Rating To Rating From SROC Athenee CDO PLC Series 2007-2 BBB/Watch Neg BBB 99.7076% Athenee CDO PLC Series 2007-3 BBB/Watch Neg...
Companies mentioned in this report are:
- Athenee CDO PLC
- Eirles Two Ltd.
- Sceptre Capital B.V.
- Magnolia Finance I PLC
- Morgan Stanley ACES SPC
Action: On CreditWatch:Negative
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. SHOW LESS READ MORE >