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18 Ratings Lowered On Three U.S. CDO Of CMBS Transactions; $742.4 Million Of Issuance Affected Oct 10
Standard & Poors, Oct 2010
Abstract
OVERVIEW We lowered our ratings on 18 tranches from three U.S. CDO of CMBS transactions and removed them from CreditWatch negative. We affirmed our ratings 15 tranches from four transactions and removed seven of them from CreditWatch negative. The downgrades reflect a number of factors, including credit deterioration. The affirmations reflect our view that the tranches have adequate credit support to maintain the current ratings according to our criteria. NEW YORK (Standard & Poor's) Oct. 6, 2010--Standard & Poor's Ratings Services today lowered its ratings on 18 tranches from three U.S. collateralized debt obligation of commercial mortgage-backed securities (CDO of CMBS) transactions and removed them from CreditWatch negative. The downgraded tranches have a total issuance amount of $742.4 million. At...
Companies mentioned in this report are: G-Star 2002-2 Ltd.,TIAA Real Estate CDO 2002-1 Ltd,LNR CDO 2002-1 Ltd,Lenox Street 2007-1. Ltd.
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
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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