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Ratings Lowered On European CMBS Transaction Cornerstone Titan 2007-1's Class D And E Notes Jan 12
Standard & Poors, Jan 2012
Abstract
OVERVIEW In our view, the issuer's income could reduce in the next 12 months to a level that could result in interest shortfalls for the class D and E notes. To reflect this risk, we have lowered our ratings on these classes of notes. Cornerstone Titan 2007-1 is a European CMBS transaction that closed in March 2007, and is currently secured on 27 commercial real estate loans. These ratings are based on our criteria for rating European CMBS. However, these criteria are under review. As a result of this review, our future European CMBS criteria may differ from the current criteria. The criteria change may affect the ratings on all outstanding notes in this transaction. PARIS (Standard & Poor's) Jan....
Companies mentioned in this report are: Cornerstone Titan 2007-1 PLC
Action: Downgraded
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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