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Transaction Update: PANGAEA ABS 2007-1 B.V. Jun 12 Product Image

Transaction Update: PANGAEA ABS 2007-1 B.V. Jun 12

  • Published: June 2012
  • Standard & Poors

FEATURED COMPANIES

  • PANGAEA ABS 2007-1 B.V.
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Abstract
Standard & Poor's Ratings Services has lowered and removed from CreditWatch negative its credit ratings on PANGAEA ABS 2007-1 B.V.'s class A, B, C, and D notes. PANGAEA ABS 2007-1 is a cash flow collateralized debt obligation (CDO) of mainly European mezzanine asset-backed securities transaction. Today's rating actions follow the application of our 2012 criteria for CDOs of pooled structured finance assets (see "Global CDOs Of Pooled Structured Finance Assets: Methodology And Assumptions," published on Feb. 21, 2012). They reflect our assessment of the negative ratings migration in the portfolio of performing assets, and of reduced weighted-average spread in the portfolio since our previous review of the transaction on Dec. 24, 2010 (see "Rating Lowered On PANGAEA ABS 2007-1's Class...

Companies mentioned in this report are: PANGAEA ABS 2007-1 B.V.
Action: Affirmed

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PANGAEA ABS 2007-1 B.V.

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