Two classes of notes issued by Ipswich Street CDO Ltd. and Ipswich Street CDO LLC have been placed on Rating Watch Negative by Fitch Ratings.The affected securities are classes D and E. The transaction is a collateralized debt obligation supported by residential and commercial mortgage-backed securities and other CDOs, Fitch said. The negative rating actions were based on the downgrading of three subprime closed-end second-lien RMBS bonds representing 1.04% of the underlying portfolio, the rating agency said. In addition, 2.18% of the portfolio has been placed on Rating Watch Negative.
Fitch Eyes Ipswich CDO Classes
June 22, 2007, 2:00 p.m. EDT 1 Min Read
