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22 Ratings Lowered On Four U.S. CDO Of CMBS Transactions; $1.549 Billion Of Issuance Affected Jun 10
Standard & Poors, June 2010
Abstract
OVERVIEW We lowered our ratings on 22 tranches from four U.S. CDO of CMBS transactions and removed eight of them from CreditWatch negative. Fourteen of the lowered ratings and 15 additional ratings remain on CreditWatch negative. We affirmed our rating on one tranche from Crest 2001-1. We also withdrew our ratings on three tranches from two transactions. The downgrades reflect a number of factors, including credit deterioration. NEW YORK (Standard & Poor's) June 15, 2010--Standard & Poor's Ratings Services today lowered its ratings on 22 tranches from four U.S. collateralized debt obligation (CDO) of commercial mortgage-backed securities (CMBS) transactions. The downgraded tranches have a total issuance amount of $1.549 billion. At the same time, we removed eight of the lowered...
Companies mentioned in this report are: Anthracite CDO III Ltd.,LNR CDO 2002-1 Ltd,G-Star 2002-2 Ltd.,Sorin Real Estate CDO III Ltd
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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