NEW YORK--(BUSINESS WIRE)--Fitch Ratings has withdrawn the ratings on 144 classes of notes from 31 structured finance collateralized debt obligations (SF CDOs) with exposure to various structured finance assets. These transactions were previously reviewed and all the notes were affirmed on Feb. 10, 2015. At that time, the rating action commentary stated that Fitch considered a withdrawal of its ratings on some of the reviewed transactions and was giving investors a 30-day notice to indicate a continuing interest in Fitch ratings. Given that no investor indicated such interest, Fitch is today withdrawing the ratings on the notes detailed in the related Rating Action Report.
KEY RATING DRIVERS
Notes issued by all of these transactions are severely under collateralized. Forty-nine classes rated 'Dsf' are non-deferrable classes that continue to experience interest shortfalls, were withdrawn. Additionally, 95 classes rated 'Csf' as default is inevitable, were withdrawn. Although the notes will remain outstanding until the deal's legal maturity or liquidation in accordance with the Indenture, the ratings are withdrawn as they are no longer considered analytically meaningful.
The individual rating actions for each rated CDO are detailed in the report 'Fitch Withdraws Ratings on 31 SF CDOs from 2000-2007 Vintages', dated March 12, 2015. It can be found on Fitch's website at 'www.fitchratings.com' by performing a title search or by using the link below. For further information and transaction research, please refer to 'www.fitchratings.com'.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria and Related Research:
--'Global Structured Finance Rating Criteria' (Aug. 4, 2014);
--'Global Rating Criteria for Structured Finance CDOs' (July 16, 2014);
--'Fitch Takes Various Rating Actions on 43 SF CDOs from 2000-2007 Vintages' (Feb. 10, 2015).
Applicable Criteria and Related Research: Fitch Withdraws Ratings on 31 SF CDOs from 2000-2007 Vintages
Global Structured Finance Rating Criteria
Global Rating Criteria for Structured Finance CDOs