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Various Rating Actions Taken On European Synthetic CDO Tranches—March 2008 Mar 08 Product Image

Various Rating Actions Taken On European Synthetic CDO Tranches—March 2008 Mar 08

  • ID: 2031280
  • March 2008
  • Region: Europe
  • Standard & Poors


  • Argon Capital PLC
  • Arosa Funding Ltd.
  • Cerigo Capital Ltd.
  • Coriolanus Ltd.
  • Eirles Two Ltd.
  • Heartland Funding PLC
  • MORE

LONDON (Standard & Poor's) March 27, 2008Standard & Poor's Ratings Services said today that it has taken credit rating actions on 81 European synthetic collateralized debt obligation (CDO) tranches (see list below). Specifically, the ratings on: 58 tranches were removed from CreditWatch with negative implications and lowered; 21 tranches were lowered and remain on CreditWatch negative; and Two tranches were removed from CreditWatch positive and raised. Of the 79 tranches lowered: 20 reference U.S. residential mortgage-backed mortgages (RMBS) and U.S. CDOs that are exposed to U.S. RMBS, which have experienced recent negative rating actions; and 59 have experienced corporate downgrades in their portfolios. The 81 tranches represent 3.1% of the total number of European synthetic...

Action: Downgraded
Action: On CreditWatch:Negative
Action: Removed From CreditWatch
Action: Upgraded

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.

- Argon Capital PLC
- Deutsche Bank AG
- Eirles Two Ltd.
- Coriolanus Ltd.
- ARLO Ltd.
- Herald Ltd.
- Xelo PLC
- Saphir Finance PLC
- Caribou 2002-D
- Arosa Funding Ltd.
- Rheinwest Credit Management
- Elva Funding PLC
- Corsair (Cayman Islands) No. 4 Ltd.
- Omega Capital Investments PLC
- Starling Finance PLC
- Khamsin Credit Products (Netherlands) II B.V.
- Linker Finance PLC
- Claris III Ltd.
- Heartland Funding PLC
- Cerigo Capital Ltd.
- Asset Repackaging Trust Six B.V.
- Logan CDO III Ltd.

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