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Atlas VI Capital Ltd. 2009-1 Class A Notes Downgraded On Exposure To Japanese Earthquake May 11
Standard & Poors, May 2011
Abstract
LONDON (Standard & Poor's) May 20, 2011--Standard & Poor's Ratings Services said today that it downgraded to 'B (sf)' from 'BB- (sf)' the -75 million principal-at-risk variable-rate series 2009-1 class A notes issued by Atlas VI Capital Ltd. We downgraded the notes because the issuer had submitted to Risk Management Solutions (RMS) two event notices concerning two earthquakes on April 7 and 11, 2011. The earthquakes could be considered aftershocks of the Tohoku earthquake on March 11, 2011, in Japan. Subsequently, RMS determined that the two events were covered events and that the index values for the April 7 and 11 events amounted to 57.05 and 46.53, respectively. The 2009-1 class A notes are exposed to major Japanese earthquake and...
Companies mentioned in this report are: Atlas VI Capital Ltd.
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.
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