Rating On Class A Notes In German SME CLO Transaction Geldilux-TS-2007 Placed On CreditWatch Negative; Rest Affirmed Jan 12
- ID: 2040617
- January 2012
- Region: Germany
- Standard & Poors
OVERVIEW Today's rating actions follow the CreditWatch negative placement of our ratings on Unicredit Bank (formerly Bayerische Hypo- und Vereinsbank) as originator of the underlying loans in the portfolio, as well as our review of the transaction's performance using the latest available monthly servicer report of December 2011, and portfolio performance data received from the servicer. We have placed on CreditWatch negative our rating on the class A notes. We have affirmed our ratings on all other classes of notes. Geldilux-TS-2007 is a cash flow CLO of short-term loans originated under Unicredit Bank's euro-loan program. These ratings are based on our criteria for rating European SME securitizations. However, these criteria are under review. As a result of this review, our...
Companies mentioned in this report are: Geldilux-TS-2007 S.A.
Action: On CreditWatch:Negative
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