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33 Ratings On 16 U.S. Cash Flow And Hybrid CDOs Of ABS Placed On CreditWatch Negative Feb 09
Standard & Poors, Feb 2009
Abstract
NEW YORK (Standard & Poor's) Feb. 10, 2009--Standard & Poor's Ratings Services today placed its ratings on 33 tranches from 16 U.S cash flow and hybrid collateralized debt obligations (CDOs) of asset-backed securities (ABS) on CreditWatch with negative implications due to deterioration in the credit quality of the assets in the underlying collateral pools (see list). The CDO tranches with ratings placed on CreditWatch negative have a total issuance amount of $654.475 million. Three of these 16 transactions are mezzanine structured finance (SF) CDOs of ABS (collateralized at origination by 'A' and 'BBB' rated tranches of residential mortgage-backed securities {RMBS} and other SF securities). One of the transactions is a CDO of SF CDO transaction that was collateralized at origination...
Companies mentioned in this report are: ACA ABS 2004-1 Limited,Diversified Asset Securitization Holdings III L.P.,Coast Investment Grade 2001-1 Ltd,Zais Investment Grade Limited V,Connecticut Valley Structured Credit CDO II Ltd,Tricadia CDO 2003-1 Ltd,C-BASS CBO XIII Ltd,Sorin Real Estate CDO I Ltd,Acacia CRE CDO 1 Ltd,Newcastle CDO VII Limited,Connecticut Valley Structured Credit CDO III, Ltd.,Vertical CRE CDO 2006-1, Ltd.,Connecticut Valley CLO Funding IV Ltd
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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