Transaction Update: PDM CLO I B.V. Apr 10
Standard & Poors, April 2010
Abstract
Standard & Poor's Ratings Services today took various rating actions on PDM CLO I B.V.'s outstanding -264.4 million notes. Specifically, we: Lowered and removed from CreditWatch negative our ratings on four tranches; and Affirmed our rating on one tranche. PDM CLO I is a cash flow collateralized loan obligation (CLO) transaction that securitizes loans to primarily speculative-grade corporate firms. The rating actions follow the application of our updated criteria for corporate CDOs, as well as our assessment of the credit deterioration in the transaction portfolio. None of the ratings was affected by either the largest obligor default test or the largest industry default test, two supplemental stress tests we introduced as part of our criteria update (see "Update To Global...
Companies mentioned in this report are: PDM CLO I B.V.
Action: Downgraded, Off 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 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: Full Analysis
PDM CLO I B.V.
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