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33 Direct-Linked Synthetic CDO Tranche Ratings Placed On CreditWatch Negative Apr 09
Standard & Poors, April 2009
Abstract
NEW YORK (Standard & Poor's) April 9, 2009--Standard & Poor's Ratings Services today placed its ratings of 33 tranches from 33 U.S. synthetic collateralized debt obligation (CDO) transactions on CreditWatch with negative implications (see list). The 33 U.S. synthetic CDO tranche ratings have a direct link to the ratings on their respective reference obligations, which we placed on CreditWatch in conjunction with our actions affecting rated commercial mortgage-backed securities (CMBS) on April 7, 2009. The tranches with ratings placed on CreditWatch have a total issuance amount of $1.325 billion. RELATED RESEARCH -- '1,994 Ratings From 170 Conduit And Fusion CMBS Transactions Put On Watch Negative; 155 Remain On Watch Negative,' published on April 7, 2009; and -- '703 Ratings From...
Companies mentioned in this report are: Seawall SPC
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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