Fitch Eyes MBIA-Linked CDOs

Eight classes from six collateralized debt obligations insured by MBIA Inc. and consisting partly of mortgage-backed securities have been placed on Rating Watch Negative by Fitch Ratings.The ratings of the CDOs are supported by a financial guaranty provided by MBIA Insurance Corp., a subsidiary of MBIA, whose triple-A insurer financial strength rating was recently placed on Rating Watch Negative by Fitch because of exposure to subprime residential MBS. The affected notes are as follows: Endurance CLO I Ltd, class A; Mulberry Street CDO Ltd., class A-1A; Mulberry Street CDO II Ltd., classes A-1A, A-1B, and A-1W; Oceanview CBO I Ltd., class A-1A; Shyppco Finance Co. LLC, class A-2A; and Z-1 CDO 1996 Ltd. (previously Cigna CBO 1996-1 Ltd.), class A-2.