The class C notes issued by Fulton Street CDO Ltd. and Fulton Street CDO Funding Corp. and Sunrise CDO I Inc. have been downgraded from B/DR1 to B-minus/DR1 by Fitch Ratings.The downgrade was based on declining performance measures, such as overcollateralization ratios and weighted average coupons, Fitch said. The transaction is a collateralized debt obligation supported by residential and commercial mortgage-backed securities, asset-backed securities, corporate debt securities, and CDOs.
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