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Issuers
S&P strips European rescue fund of AAA rating
Tuesday, January 17, 2012
S&P stripped the European Financial Stability Fund (EFSF) of its AAA rating on Monday, following the downgrade of some its core guarantors.
The agency had threatened to downgrade the fund if and when any of its core guarantors lost their AAA ratings and has therefore reduced its rating to AA+, after France and Austria were downgraded on Monday.
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Trading
Funds
Structured
CFlux secondary
CLO index levels:
| Index | 21 May |
|
| CFlux USD AAA | ↑ | 96.2 |
| CFlux USD AA | ↑ |
88.3 |
| CFlux USD A | ↓ | 84.1 |
| CFlux USD BBB | ↓ | 75.3 |
| CFlux USD BB | ↓ |
74.1 |
| CFlux USD EQ | ↑ | 77.5 |
Idea for Creditflux: Please track the yields on EFSF debt. I haven't yet seen any comparison to Bunds (on the tight end) or to the average yields of the guarantors. This would be interesting. On a less serious note, I wonder if the ECB will start buying EFSF paper.