Fitch: U.S. Bank TruPS CDOs Combined Default & Deferral Rate Declined

NEW YORK--()--The number of combined defaults and deferrals for U.S. bank TruPS CDOs decreased to 18.1% at the end of September from 18.8% at the end of August, according to the latest index results published today by Fitch Ratings.

In September, 16 bank issuers representing $138 million of notional cured in 10 CDOs. There were no new defaults in September. Three issuers, representing $10.5 million of notional in three CDOs, re-deferred.

One defaulted issuer with the notional of $115.5 million in six CDO has been exchanged for preferred stock, and the notional has been removed from the index.

Across 78 Fitch-rated TruPS CDOs, 229 defaulted bank issuers remain in the portfolio representing approximately $5.5 billion of collateral. 113 issuers are currently deferring interest payments on $1.4 billion of collateral.

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

Bank TruPS CDO Index

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=872849

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Contacts

Fitch Ratings
Azadeh Sharif
Associate Director
+1-212-908-0874
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Todor Sapundzhiev
Associate Analyst
+1-312-368-3198
or
Alina Pak, CFA
Senior Director
+1-312-368-3184
or
Media Relations:
Sandro Scenga, +1 212-908-0278
sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Azadeh Sharif
Associate Director
+1-212-908-0874
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Todor Sapundzhiev
Associate Analyst
+1-312-368-3198
or
Alina Pak, CFA
Senior Director
+1-312-368-3184
or
Media Relations:
Sandro Scenga, +1 212-908-0278
sandro.scenga@fitchratings.com