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199 Rated CDO Transactions Have Exposure To SuperMedia Inc. Dec 11
Standard & Poors, Dec 2011
Abstract
NEW YORK (Standard & Poor's) Dec. 15, 2011--Standard & Poor's Ratings Services stated today that it rates 199 U.S. corporate backed collateralized debt obligation (CDO) transactions that have exposure to SuperMedia Inc. Overall, the 199 transactions have relatively limited exposure to SuperMedia, as only one has an exposure of more than 2% to this obligor. Standard & Poor's downgraded the Dallas-based U.S. Yellow pages publisher to 'CC' from 'CCC+' on Nov. 16, 2011, after the company amended its credit agreement to allow it to repurchase term debt at prices below face value. The downgrade reflected Standard & Poor's view that the amendment suggests a high likelihood of a subpar buyback. In a disclosure with the SEC yesterday, the company announced...
Action: General Comment
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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