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Fitch downgrades a batch of CSOs
Wednesday, April 14, 2010
Fitch has announced that it is downgrading 99 CSOs globally and upgrading four tranches. It says the downgrades reflect the total of 14 credit events that have hit these deals since it last took action on them in May, as well the deterioration of other names in the reference portfolios. Most of the deals that were upgraded have been restructured, says the rating agency.
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CLO index levels:
| Index | 14 May |
|
| CFlux USD AAA | ↑ | 96.0 |
| CFlux USD AA | ↑ |
87.7 |
| CFlux USD A | ↑ | 85.1 |
| CFlux USD BBB | ↓ | 77.2 |
| CFlux USD BB | ↑ |
75.9 |
| CFlux USD EQ | ↓ | 76.7 |
