Preliminary Ratings Assigned to Notes of Arbitrage CDO, Duchess I CDO S.A. May 01
Standard & Poors, May 2001
Abstract
LONDON (Standard & Poor's CreditWire) May 1, 2001--Standard & Poor's today assigned its preliminary ratings to the Eur800 million fixed- and floating-rate notes and income notes to be issued by Duchess I CDO S.A., a special-purpose entity (see list below). The Duchess I CDO S.A. transaction is an arbitrage collateralized debt obligation (CDO) sponsored by Duke Street Capital Debt Management Ltd. as collateral manager. The collateral securing the rated notes consists of below-investment-grade rated euro- and sterling-denominated bank loans, private placements, bank subordinated notes, investment-grade securities, high-yield securities, and structured finance securities. The preliminary ratings on Duchess I CDO S.A.'s class A and class B notes reflect: -- The 'AAA' rating of Financial Security Assurance (U.K.) Ltd., which has issued...
Companies mentioned in this report are: Duchess I CDO S.A.
Action: New Rating
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.
Duchess I CDO S.A.
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