Ratings Raised On BACCHUS 2006-2's Class A To D Notes After Review; Class E Notes Affirmed
Standard & Poors, November 2010
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 We have observed an increased balance of performing assets in the transaction, due to restructurings of previously defaulted assets. We have raised our ratings on the class A-1, A-2A, A-2B, B, C, and D notes. We have also affirmed our rating on the class E notes. BACCHUS 2006-2 is a cash flow CLO transaction that securitizes loans to primarily speculative-grade corporate firms. LONDON (Standard & Poor's) Nov. 8, 2010--Standard & Poor's Ratings Services today raised its credit ratings on BACCHUS 2006-2 PLC's class A-1, A-2A, A-2B, B, C, and D notes. At the same time, we affirmed our rating on the class E notes (see list below). Today's rating actions follow our observations of an increased balance of performing...
Companies mentioned in this report are: BACCHUS 2006-2 PLC
Action: Affirmed
Action: Upgraded
BACCHUS 2006-2 PLC
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