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Ratings On Four Japanese Synthetic CDO Tranches Placed On CreditWatch Positive, One On Watch Neg; One Kept On Watch Neg Feb 13 Product Image

Ratings On Four Japanese Synthetic CDO Tranches Placed On CreditWatch Positive, One On Watch Neg; One Kept On Watch Neg Feb 13

  • ID: 2417828
  • February 2013
  • Region: Japan
  • Standard & Poors

Abstract
TOKYO (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services today said that it has placed its ratings on four Japanese synthetic collateralized debt obligation (CDO) transactions on CreditWatch with positive implications and one transaction on CreditWatch with negative implications. At the same time, we kept the rating on Corsair (Jersey) No. 2's series 58 CDO transaction on CreditWatch with negative implications (see list below). We placed our rating on series 58 on CreditWatch negative on Jan. 18, 2013. Today's CreditWatch positive placements reflect the tranches' synthetic rated overcollateralization (SROC) levels, which exceeded 100% with sufficient SROC cushion at higher ratings than the current ratings as of Jan. 31, 2013. Meanwhile, we placed or kept on CreditWatch negative our...

Companies mentioned in this report are:
- Silk Road Plus PLC
- Corsair (Jersey) No. 2 Ltd.
- Hummingbird Securitisation Ltd.

Action: Affirmed
Action: On CreditWatch:Positive
Action: Removed From CreditWatch

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- Silk Road Plus PLC
- Corsair (Jersey) No. 2 Ltd.
- Hummingbird Securitisation Ltd.

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