Fitch Withdraws 6 Assured Guaranty-Related Tranches of CDOs
CHICAGO--(BUSINESS WIRE)-- Fitch Ratings withdrew the Insurer Financial Strength (IFS) rating of Assured Guaranty Corp. (AGC) and related entities, including Financial Security Assurance (FSA) on Feb. 24, 2010. Based on that action, Fitch is withdrawing its ratings of CDO notes wrapped by AGC or FSA.
Fitch has withdrawn the following ratings:
Alesco Preferred Funding VII, Ltd./Inc.
--US$164,206,309 class A-1-A first priority senior secured notes due 2035 'AA-'; Outlook Negative;
Attentus CDO II, Ltd./LLC
--US$189,437,498 class A-1 first priority senior secured floating-rate notes due 2041 'AA-'; Outlook Negative;
Attentus CDO III, Ltd./LLC
--US$100,000,000 class A-1B second priority senior secured floating-rate notes due 2042 'AA-'; Outlook Negative;
Dekania Europe CDO II Plc.
--EUR 162,179,294 class A1 senior floating-rate notes due 2037 'AA-'; Outlook Negative;
Northwestern Investment Management Company CBO I Fund Ltd./Corp.
--$24,439,433 class A floating rate senior notes due 2010 'AA'; Outlook Negative;
CHYPS CBO 1999-1 Ltd./Corp.
--$1,554,169 class A-2 notes due 2011 'AA'; Outlook Negative.
These rating actions reflect the application of Fitch's current criteria which is available at www.fitchratings.com and specifically include the following reports:
--'Fitch Revises Criteria for Reviewing U.S. CDOs Backed by Bank & Insurance TruPS' (March 25, 2009);
--'Rating Criteria for U.S. Bank and Insurance Trust Preferred CDOs' (Feb. 2, 2005);
--'Global Rating Criteria for Structured Finance CDOs' (Dec. 16, 2008);
--'Global Structured Finance Rating Criteria' (Sept. 30, 2009);
--'Global Rating Criteria for Corporate CDOs' (April 30, 2008);
--'Global Surveillance Criteria for Corporate CDOs' (Dec. 7, 2009).
Additional information is available at www.fitchratings.com.
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.
Fitch Ratings, New York
Johann Juan, +1-312-368-3339 (Chicago)
Derek Miller, +1-312-368-2076 (Chicago)
Elizabeth Nugent, +1-212-908-0157
Kevin Kendra, +1-212-908-0670
Media Relations:
Sandro Scenga, +1-212-908-0278
[email protected]
Source: Fitch Ratings
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