ARCHIVE   Criteria   Structured Finance   CDOs: Distressed Debt CDOs: Spinning Straw Into Gold - S&P Global Ratings’ Credit Research

ARCHIVE Criteria Structured Finance CDOs: Distressed Debt CDOs: Spinning Straw Into Gold

ARCHIVE   Criteria   Structured Finance   CDOs: Distressed Debt CDOs: Spinning Straw Into Gold - S&P Global Ratings’ Credit Research
ARCHIVE Criteria Structured Finance CDOs: Distressed Debt CDOs: Spinning Straw Into Gold
Published May 07, 2001
Published May 07, 2001
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Abstract:

In December 2000, Standard&Poor's assigned confidential ratings to Ark CLO 2000-1, an issue backed by cash flows from a pool of distressed and defaulted bank loans from Fleet Boston Corp. As reported in the national press, Fleet Boston sold in excess of $1.5 billion of its problem loans to a bankruptcy-remote, special-purpose entity that financed the purchase by issuing notes into the private ABS market. Interest and principal on the rated notes will be paid from the cash flows, including recoveries, generated by these distressed loans and from the transaction's cash reserves. Since the news of the Ark CLO appeared in the press, Standard&Poor's has received a number of inquiries about the details of this transaction

  
Report Type:

Commentary

Sector
Global Issuers, Public Finance, Structured Finance
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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MLA:
S&P Global Ratings’ Credit Research. "ARCHIVE Criteria Structured Finance CDOs: Distressed Debt CDOs: Spinning Straw Into Gold" May 07, 2001. Alacra Store. Nov 21, 2017. <http://www.alacrastore.com/s-and-p-credit-research/ARCHIVE-Criteria-Structured-Finance-CDOs-Distressed-Debt-CDOs-Spinning-Straw-Into-Gold-818024>
  
APA:
S&P Global Ratings’ Credit Research. (). ARCHIVE Criteria Structured Finance CDOs: Distressed Debt CDOs: Spinning Straw Into Gold May 07, 2001. New York, NY: Alacra Store. Retrieved Nov 21, 2017 from <http://www.alacrastore.com/s-and-p-credit-research/ARCHIVE-Criteria-Structured-Finance-CDOs-Distressed-Debt-CDOs-Spinning-Straw-Into-Gold-818024>
  
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