S&P: Ratings Discontinued On 62 Classes From 17 CDO Transactions Following Note Paydowns
Today's discontinuances follow the complete paydowns of the notes as reflected in the most recent trustee-issued note payment reports for each transaction:
Apidos Cinco CDO (CF CLO): senior-most tranches paid down; other rated tranches still outstanding. Ares XXI CLO Ltd. (CF CLO): optional redemption in August 2016.Ashford CDO II Ltd. (CF CDO): senior-most tranche paid down; other rated tranches still outstanding. Babson CLO Ltd. 2007-I (CF CLO): optional redemption in August 2016.Four Corners CLO III Ltd. (CF CLO): optional redemption in July 2016. Galaxy XI CLO Ltd. (CF CLO): optional redemption in August 2016.Halcyon Loan Investors CLO I Ltd. (CF CLO): optional redemption in August 2016.Hewett's Island CLO I-R Ltd. (CF CLO): all rated tranches paid down. Jasper CLO Ltd. (CF CLO): senior-most tranche paid down; other rated tranches still outstanding. KKR Financial CLO 2007-1 Ltd. (CF CLO): optional redemption in August 2016.Liberty CLO Ltd. (CF CLO): senior-most tranche paid down; other rated tranches still outstanding. Nob Hill CLO Ltd. (CF CLO): optional redemption in August 2016.NYLIM Flatiron CLO 2006-1 Ltd. (CF CLO): optional redemption in August 2016.Red River CLO Ltd. (CF CLO): senior-most tranches paid down; other rated tranches still outstanding. Shackleton I CLO Ltd. (CF CLO): class A-X notes(i) paid down; other rated tranches still outstanding. Telos CLO 2007-2 Ltd. (CF CLO): senior-most tranche paid down; other rated tranches still outstanding. WG Horizons CLO I (CF CLO): optional redemption in August 2016.(i)An "X note" within a CLO is generally a note with a principal balance intended to be repaid early in the CLO's life using interest proceeds from the CLO's waterfall.
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