|
|
 |
|
Viewing report
|
|
|
|
116 Ratings Lowered In 18 European CLO Transactions; $7.21 Billion Of Issuance Affected (May 7, 2010 Review) May 10
Standard & Poors, May 2010
Abstract
OVERVIEW We lowered our ratings on 116 European CLO tranches. Additionally, we affirmed our ratings on seven tranches and withdrew our ratings on three tranches. The downgrades follow the application of our updated criteria for corporate CDOs, as well as our assessment of the credit deterioration in some of the transaction portfolios. The affirmations reflect our view that the tranches have adequate credit support to maintain their current ratings under our updated criteria. LONDON (Standard & Poor's) May 7, 2010--Standard & Poor's Ratings Services today lowered its credit ratings on 116 tranches in 18 European collateralized loan obligation (CLO) transactions. Of the ratings lowered, all were previously on CreditWatch negative, from which they have now been removed. At the same...
Companies mentioned in this report are: Adagio CLO I B.V.,Duchess I CDO S.A.,Clare Island B.V.,Prospero CLO I,Adagio II CLO PLC,Dryden X-Euro CLO 2005 PLC,Gresham Capital CLO II B.V.,Prospero CLO II B.V.,Queen Street CLO I B.V.,Leopard CLO V B.V.,Cordatus Loan Fund II PLC,Intermediate Finance II PLC,Wood Street CLO VI B.V.,Ares European CLO II B.V.,NAC EuroLoan Advantage I Ltd.,Halcyon Structured Asset Management European Long Secured/Short Unsecured CLO 2008-I B.V.
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
Action: Withdrawn
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.
|
|
|
|
