Fitch: Replacement Collateral Manager for 3 SF CDOs; No Impact on Ratings

NEW YORK--()--Fitch Ratings has been notified of a proposed collateral manager replacement and appointment of successor collateral manager for Dunhill ABS CDO, Ltd./Corp. (Dunhill), Lakeside CDO I, Inc. (Lakeside I), and Streeterville ABS CDO, Ltd. (Streeterville).

On May 20, 2015 Fitch received notice that Vanderbilt Capital Advisors has resigned from its role as the collateral manager under the Collateral Management Agreement (CMA) and designated Babson Capital Management LLC. as the replacement manager. Terms of the proposed replacement CMA have remained almost identical with only minor differences that are not material to the ratings of the transaction.

Dunhill, Lakeside I, and Streeterville are no longer in their reinvestment period. Given the above, Fitch does not expect the manager replacement to have any impact on the ratings of the notes.

Fitch is not a party to the transaction and therefore does not provide consent or approval, as that remains the sole preserve of the transaction parties. Fitch expects to be notified by the trustee when the proposed transfer of asset management responsibilities is completed.

The information used to assess these ratings is from the trustees reports.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (March 31, 2015);

--'Global Rating Criteria for Structured Finance CDOs' (July 16, 2014);

--'Counterparty Criteria for Structured Finance and Covered Bonds' (May 14, 2014).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=864268

Global Rating Criteria for Structured Finance CDOs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=751136

Counterparty Criteria for Structured Finance and Covered Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=744158

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Contacts

Fitch Ratings
Primary Surveillance Analyst
Emmett O'Brien
Analyst
+1-212-908-0648
Fitch Ratings, Inc.
33 Whitehall Street
New York, New York, 10004
or
Committee Chairperson
Alina Pak, CFA
Senior Director
+1-312-368-3184
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Primary Surveillance Analyst
Emmett O'Brien
Analyst
+1-212-908-0648
Fitch Ratings, Inc.
33 Whitehall Street
New York, New York, 10004
or
Committee Chairperson
Alina Pak, CFA
Senior Director
+1-312-368-3184
or
Media Relations:
Sandro Scenga, New York, +1 212-908-0278
Email: sandro.scenga@fitchratings.com