976489325
News

News Round Up

Monday 5th of April 2004

Standard & Poor's has changed some of the ratings of the HI-FI synthetic CDOs.

These changes have been made to "reflect the revised credit support now available and currently required to achieve a given rating."

The rating actions follow the receipt of final valuations on bonds issued by bankrupt dairy company Parmalat.

From:

To:

HY-FI Securities Ltd. Series 1

A+/Watch Dev

AA-

HY-FI Securities Ltd. Series 2

BBB-/Watch Dev

BB-

HY-FI Securities Ltd. Series 3

A+/Watch Dev

A+

HY-FI Securities Ltd. Series 4

BBB-/Watch Dev

BB


Final valuations have yet to be determined for the remainder of Australian synthetic transactions affected by the default of Parmalat.

Want to read the full article?

Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.

You will also be able to comment on articles on Good Returns.