Ratings On 35 Japanese Corporate Synthetic CDO Tranches Lowered After Criteria Update Nov 09
Standard & Poors, November 2009
Abstract
OVERVIEW We lowered our ratings on 35 tranches from 27 Japanese corporate synthetic CDO transactions; all of these were on CreditWatch negative prior to the downgrades and have now been removed from CreditWatch negative. The downgraded tranches have an aggregate issuance amount of $1.04 billion. We also affirmed our ratings on four tranches from corporate synthetic CDO transactions; all of these were on CreditWatch negative and have now been removed from CreditWatch negative. The rating actions reflect the application of our updated criteria for rating corporate CDO transactions, which we published on Sept. 17, 2009. The downgrades affect a large number of the ratings Standard & Poor's has assigned to corporate synthetic CDO transactions. TOKYO (Standard & Poor's) Nov. 25,...
Companies mentioned in this report are:
- Corsair (Jersey) No. 2 Ltd.
- Eirles Two Ltd.
- Mizuho Corporate Bank Ltd.
- CuBic One Ltd.
- Helium Capital Ltd.
- Momentum CDO (Europe) Ltd.
- Signum Vanguard Ltd.
- Hummingbird Securitisation Ltd.
- Omega Capital Investments PLC
- Silk Road Plus PLC
Action: Downgraded
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.
- Corsair (Jersey) No. 2 Ltd.
- Eirles Two Ltd.
- Mizuho Corporate Bank Ltd.
- CuBic One Ltd.
- Helium Capital Ltd.
- Momentum CDO (Europe) Ltd.
- Signum Vanguard Ltd.
- Hummingbird Securitisation Ltd.
- Omega Capital Investments PLC
- Silk Road Plus PLC
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