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Bulletin: Ratings Confirmed After Partial Purchase And Redemption Of Egret Funding CLO I's Class E Notes
Standard & Poors, July 2009
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
OVERVIEW There has been a partial purchase and redemption of the class E notes in Egret Funding CLO I's corporate loan CLO. There are no changes to our ratings in this deal. LONDON (Standard & Poor's) July 15, 2009--Standard & Poor's Ratings Services has confirmed its ratings on the outstanding notes issued by Egret Funding CLO I PLC following the purchase and subsequent cancellation of -1.4 million of the class E notes (see list below). On July 13, 2009, the issuer purchased in a privately negotiated transaction a notional of -1.40 million (out of an aggregate principal balance of -12.25 million) of the class E notes, which were subsequently cancelled. It purchased the notes at a discount to par plus...
Companies mentioned in this report are: Egret Funding CLO I PLC
Action: Bulletin
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