|
|
Article: Fitch Places Taberna Preferred Funding II, Ltd. on Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- August 14, 2007
CopyrightCOPYRIGHT 2007 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW YORK -- Fitch has placed three classes of notes issued by Taberna Preferred Funding II, Ltd. (Taberna II) on Rating Watch Negative, totaling $84.3 million. Taberna II is a collateralized debt obligation (CDO) backed primarily by trust preferred securities issued by real estate investment trusts (REITs) and homebuilders. The following rating actions are effective immediately:
--$29,866,591 class E-1 notes, rated 'BBB', placed on Rating Watch Negative;
--$10,035,175 class E-2 notes, rated 'BBB', placed on Rating Watch Negative;
--$42,500,000 class F notes, rated 'BB+', placed on Rating Watch Negative.
Fitch's rating actions reflect ...