Fitch Eyes Attentus CDOs

Published July 16, 2008, 1:00 p.m. EDT

1 Min Read

Thirteen classes from three Attentus collateralized debt obligations have been placed on Rating Watch Negative by Fitch Ratings. The managed CDOs -- Attentus CDO I Ltd./LLC, Attentus CDO II Ltd./LLC, and Attentus CDO III Ltd./LLC -- are supported by portfolios of trust preferred securities and subordinated debt issued by subsidiaries of real estate investment trusts, real estate operating companies, homebuilders, and specialty finance companies, as well as senior debt securities, commercial mortgage-backed securities and, in some cases, commercial real estate loans. Fitch attributed its rating actions to "heightened concern related to continued negative portfolio credit migration," as well as a collateral balance reduction stemming from one credit risk sale for Attentus CDO I and additional default activity for Attentus CDO II.

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