PRIME 2006-1 Notes Placed On CreditWatch Negative After Portfolio Credit Migration Mar 08

  • ID: 1885133
  • March 2008
  • Standard & Poors
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FRANKFURT (Standard & Poor's) March 14, 2008-Standard & Poor's Ratings Services said today that it has placed on CreditWatch with negative implications its ratings on all the notes issued by PRIME 2006-1 Funding Limited Partnership, a German SME CLO transaction (see list below). The CreditWatch placements follow the full credit analysis of the underlying portfolio of participation rights issued by German SMEs. This analysis relies on updated probabilities of default for each company in the portfolio, which were quantitatively derived by using CreditRiskTracker. Standard & Poor's has examined the observed credit migration and carried out a comparative analysis of the new probabilities of default. Standard & Poor's also examined the latest transaction reporting, which shows the portfolio distribution with regard...

Companies mentioned in this report are: PRIME 2006-1 Funding Limited Partnership
Action: On CreditWatch:Negative

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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PRIME 2006-1 Funding Limited Partnership

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