S&P: Nine Ratings Raised From Seven U. S. Synthetic CDO Transactions After Review
The rating actions followed our periodic review of synthetic CDO transactions.
The upgrades reflect the transactions' seasoning, rating stability of the obligors in the underlying reference portfolio over the past few months, and a synthetic rated overcollateralization ratio that rose above 100% at the next highest rating level as of the latest run, passing with sufficient cushion per our criteria.
We will continue to review whether, in our view, the ratings assigned to the notes remain consistent with the credit enhancement available to support them, and we will take further rating actions as we deem necessary.
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