Two classes of notes issued by Bleecker Structured Asset Fund Ltd., and supported in part by residential and commercial mortgage-backed securities, have been downgraded by Fitch Ratings.Classes A-1 and A-2 were downgraded from B-plus to B-minus. The transaction is a collateralized debt obligation supported by asset-backed securities, RMBS, and CMBS. "The rating actions are a result of continued deterioration in the credit quality of Bleecker's collateral pool and the continued negative impact of its interest rate hedge," Fitch said. The rating agency can be found online at http://www.fitchratings.com.
Bleecker Notes Downgraded
May 04, 2006, 2:00 p.m. EDT 1 Min Read
