Recovery Rates For Credits In Global Synthetic CDOs Structured Finance Report Q3 2006 Dec 06
Standard & Poors, December 2006
Abstract
During the third quarter of 2006, no new credit events were called on corporate obligors in the synthetic CDOs rated by Standard & Poor's. The cumulative global average recovery rate on credit events called through the third quarter of 2006 has, as a result, stayed at approximately 38%. In the third quarter, no corporate obligors triggered credit events in synthetic CDOs rated by Standard & Poor's Ratings Services globally. This compares with a number of high-profile corporate bankruptcy filings and corresponding CDO credit events toward the end of 2005 and in the first quarter of 2006. In rated synthetic CDOs, the cumulative average recovery rate on reference obligors triggering credit events from the beginning of 2000 has been about 38%....
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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