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Four Nontraditional Structured Credit Deals Downgraded On Ambac's Role As Controlling Party Apr 10 Product Image

Four Nontraditional Structured Credit Deals Downgraded On Ambac's Role As Controlling Party Apr 10

  • ID: 1783670
  • April 2010
  • Standard & Poors

Abstract
OVERVIEW We lowered our ratings on 10 classes of notes from four U.S. corporate securitizations and removed them from CreditWatch with negative implications because of our current view of Ambac Assurance Corp., the monoline insurer and controlling party in these transactions. The lowered ratings on the five classes of corporate securitization notes issued by Local Insight Media LLC were further driven by performance deterioration. NEW YORK (Standard & Poor's) April 15, 2010--Standard & Poor's today lowered its ratings on 10 classes of notes from four U.S. corporate securitizations and removed them from CreditWatch negative because of our view of Ambac Assurance Corp. (Ambac), the monoline insurer and controlling party in these transactions (see list). The affected transactions are DB Master...

Companies mentioned in this report are: Ambac Assurance Corp.,Sonic Capital LLC,Local Insight Media Finance LLC
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

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Ambac Assurance Corp.,Sonic Capital LLC,Local Insight Media Finance LLC

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