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10 Ratings On Six U.S. Nontraditional Structured Credit Transactions Unaffected By AMBAC Downgrade
Standard & Poors, Nov 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 Our ratings on 10 classes of notes from six Ambac-insured nontraditional securitizations remain unchanged and on CreditWatch negative following the downgrade of the bond insurer. Our ratings on the eight classes notes from four of the nontraditional securitizations (the U.S. corporate securitizations) remain on CreditWatch with negative implications due to Ambac's role as the controlling party within the transactions. NEW YORK (Standard & Poor's) Nov. 20, 2009--Standard & Poor's Ratings Services today stated that its ratings on 10 classes of notes from six nontraditional structured credit securitizations would not be affected by the Nov. 18, 2009, downgrade of AMBAC Assurance Corp. (Ambac), a monoline insurance company and the bond insurer for these notes (see list). We lowered our financial...
Companies mentioned in this report are: Acapulco Funding 2005-1,UCAT 2005-1,Sonic Capital LLC,Dominos Pizza Master Issuer LLC,Local Insight Media Finance LLC
Action: General Comment
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