HONG KONG (Standard&Poor's) Feb. 24, 2010-- Standard&Poor's Ratings Services said today that is had raised its rating on five tranches of Asia-Pacific (ex-Japan) CDO tranches (see list). At the same time, the ratings were removed from CreditWatch with positive implications, where they were placed on Feb. 11, 2010 (see the media release "Ratings On Five Tranches Of Asia-Pacific (Ex-Japan) CDO Transactions Placed On CreditWatch Positive," published on Feb. 11, 2010). We reviewed the credit quality of the securitized assets using the synthetic rated overcollateralization (SROC) scores and results from our supplemental tests: the largest obligor and largest industry tests. These results measure the degree by which the credit enhancement of a tranche exceeds the stressed loss
