Ratings Lowered On Class F, G, And H Notes In Titan Europe 2006-2's CMBS Transaction
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 The class H notes suffered a second consecutive interest shortfall on the October 2010 note interest payment date. The interest shortfalls follow a nonpayment of interest under the Velvet loan. We have lowered the ratings on the class F, G, and H notes. All other ratings remain unchanged. Titan Europe 2006-2 is a CMBS transaction that closed in 2006 and comprises four loans secured on multifamily housing properties in Germany. LONDON (Standard & Poor's) Nov. 10, 2010--Standard & Poor's Ratings Services today lowered its credit ratings on Titan Europe 2006-2 PLC's class F, G, and H notes (see list below). These rating actions follow a second consecutive shortfall in interest payments on the class H notes and our expectation...
Companies mentioned in this report are: Titan Europe 2006-2 PLC
Action: Downgraded
Titan Europe 2006-2 PLC
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