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Gramercy Real Estate CDO 2007-1 Ltd. Ratings Lowered On Five Classes; 11 'CCC- (sf)' Ratings Affirmed Sep 11 Product Image

Gramercy Real Estate CDO 2007-1 Ltd. Ratings Lowered On Five Classes; 11 'CCC- (sf)' Ratings Affirmed Sep 11

  • Published: September 2011
  • Standard & Poors

Abstract
OVERVIEW We lowered our ratings on five classes from Gramercy Real Estate CDO 2007-1 Ltd., a U.S. CRE CDO transaction. At the same time, we affirmed our 'CCC- (sf)' ratings on 11 other classes from this transaction. The downgrades and affirmations primarily reflect the transaction's exposure to downgraded underlying CMBS collateral. The downgrades and affirmations also reflect the deterioration in the transaction's overcollateralization ratio. NEW YORK (Standard & Poor's) Sept. 19, 2011--Standard & Poor's Ratings Services today lowered its ratings on five classes from Gramercy Real Estate CDO 2007-1 Ltd. (Gramercy 2007-1), a U.S. commercial real estate collateralized debt obligation (CRE CDO) transaction. At the same time, we affirmed our 'CCC-' ratings on 11 other classes from the same transaction...

Companies mentioned in this report are: Gramercy Real Estate CDO 2007-1, Ltd.
Action: Affirmed
Action: Downgraded

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Gramercy Real Estate CDO 2007-1, Ltd.

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