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Ratings Lowered To 'D (sf)' And Withdrawn In FAXTOR HG 2007-1 Cash Flow CDO Of U.S. Structured Finance Securities Feb 12 Product Image

Ratings Lowered To 'D (sf)' And Withdrawn In FAXTOR HG 2007-1 Cash Flow CDO Of U.S. Structured Finance Securities Feb 12

  • ID: 2051727
  • February 2012
  • Region: United States
  • Standard & Poors

Abstract
OVERVIEW In our opinion, it is clear from its monthly reports that FAXTOR HG 2007-1 has insufficient assets to fully repay any of its noteholders. We have therefore lowered to 'D (sf)' our ratings on the deferrable class C and D notes, and affirmed our 'D (sf)' ratings on the nondeferrable class A-1M, A-2, B-1, and B-2 notes, which have previously defaulted on interest payments. We subsequently withdrew the ratings, the withdrawals to become effective after 30 days. FAXTOR HG 2007-1 is a CDO of U.S. structured finance securities that closed in May 2007. LONDON (Standard & Poor's) Feb. 7, 2012--Standard & Poor's Ratings Services today lowered to 'D (sf)' from 'CC (sf)' its credit ratings on the class C...

Companies mentioned in this report are: Faxtor HG 2007-1
Action: Affirmed
Action: Downgraded
Action: Withdrawn

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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