Twelve structured finance CDOs on negative watch on subprime exposure - Fitch |
|
|
|
Published
:
Tue, 24 Jul 2007 08:14
|
MUMBAI (Thomson Financial) - Fitch Ratings said it has placed 26 classes from 12 structured finance (SF) collateralized debt obligations (CDOs) on negative watch, while it maintains 41 classes of 23 SF CDOs on negative watch.This placement affects about 603 mln usd of CDO notes issued from 4.8 bln usd of mezzanine SF CDOs issued between 2001 and 2006, Fitch said.'These actions are a direct result of collateral deterioration, specifically subprime residential mortgage-backed securities (RMBS), wherein significant portions of the portfolio have been downgraded, placed on rating watch negative or 'under analysis' by either Fitch, Moody's or S&P in recent weeks,' Fitch said.To date the cumulative tranches placed on negative watch resulting from recent subprime RMBS credit deterioration totals about 1.4 bln usd of CDO notes from 16 bln usd of SF CDOs.TFN.newsdesk@thomson.comman/jroCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
|
|
|
|
Print this Story
19 structured CDOs on negative watch on subprime exposure - Fitch 