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TEXT-S&P raises rtgs in Dalradian European CLO IV after review
April 5, 2012 / 9:29 AM / 6 years ago

TEXT-S&P raises rtgs in Dalradian European CLO IV after review

(The following statement was released by the rating agency)

Apr 05 -

OVERVIEW

-- We have assessed the current performance of Dalradian European CLO IV by applying our counterparty criteria and conducting credit and cash flow analyses.

-- We have observed improvements in the credit quality of the pool, and an increase in credit enhancement, to levels that support higher ratings on the variable funding notes and class A, B, C, and D notes. We are therefore raising our ratings on these notes.

-- We are also affirming our rating on the class E notes.

-- Dalradian European CLO IV is a cash flow CLO transaction that closed in August 2007 and securitizes loans, primarily to speculative-grade corporate firms. The reinvestment period for this transaction ends in July 2013.

Standard & Poor’s Ratings Services today raised its credit ratings on Dalradian European CLO IV B.V.’s variable funding notes and class A, B, C, and D notes. At the same time, we affirmed our rating on the class E notes (see list below).

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