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

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

  • Published: March 2008
  • Standard & Poors

Abstract
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

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PRIME 2006-1 Funding Limited Partnership

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