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Alesco Preferred Funding XIV Ltd. Rating On Class X Notes Lowered To ' A (sf)'; One Other Rating Affirmed May 11 Product Image

Alesco Preferred Funding XIV Ltd. Rating On Class X Notes Lowered To ' A (sf)'; One Other Rating Affirmed May 11

  • Published: May 2011
  • Standard & Poors

Abstract
OVERVIEW Alesco Preferred Funding XIV Ltd. is a cash flow CDO backed primarily by trust-preferred securities issued by banking companies. We lowered our rating on the class X notes and removed it from CreditWatch negative. At the same time, we affirmed our rating on the class A-1 notes. The downgrade reflects an increase in defaults and a decline in the credit quality of the assets that back the rated tranches. NEW YORK (Standard & Poor's) May 26, 2011--Standard & Poor's Ratings Services today lowered its rating on the class X notes issued by Alesco Preferred Funding XIV Ltd., a cash flow collateralized debt obligation (CDO) backed primarily by trust-preferred securities issued by banking companies. At the same time, we removed...

Companies mentioned in this report are:
- Alesco Preferred Funding XIV, Ltd.

Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

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 READ MORE >

- Alesco Preferred Funding XIV, Ltd.

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