Alesco Preferred Funding XIV Ltd. Rating On Class X Notes Lowered To ' A (sf)'; One Other Rating Affirmed May 11
- ID: 1806731
- May 2011
- Standard & Poors
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: Removed From CreditWatch
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Research type: News
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