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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

  • Published: March 2008
  • Region: Europe
  • Standard & Poors

FEATURED COMPANIES

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

Abstract
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 READ MORE >

- 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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