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24 Ratings Withdrawn On 24 Seawall SPC Transactions Following Repurchase Nov 09
Standard & Poors, Nov 2009
Abstract
NEW YORK (Standard & Poor's) Nov. 6, 2009--Standard & Poor's Ratings Services today withdrew its ratings on 24 classes issued by 24 Seawall SPC transactions. Four of the ratings were previously on CreditWatch with negative implications (see list). All 24 transactions are U.S. synthetic collateralized debt obligations (CDOs). The rating withdrawals follow the repurchase of the notes by the arranger. RELATED RESEARCH 'CDO Spotlight: Surveillance Primer-What Drives Synthetic CDO Rating Changes?' published Feb. 27, 2007. 'U.S. CMBS Rating Methodology And Assumptions For Conduit/Fusion Pools,' published June 26, 2009. RATING ACTIONS Seawall SPC $31,062,982 million class AJ floating-rate notes series BACM 2007-2 Rating Class To From Notes NR BB+ Seawall SPC $31,062,983 series WBCMT 2007-C33 class AJ floating-rate notes Rating Class...
Companies mentioned in this report are: Seawall SPC
Action: Withdrawn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.
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