Mentioned in ?
References in periodicals archive ?
The portfolio has experienced negative rating migration, resulting in an average portfolio quality of 'BBB/BBB-' compared to 'BBB+/BBB' on the October 2007 review date and 'A-/BBB+' on the closing date in January and March of 2005 for Herald and Iridal, respectively.
5% credit enhancement levels for Herald and Iridal, respectively are not sufficient to justify the previous ratings of the notes.
As of the June 30th, 2008 trustee report, the Trading Reserve Accounts for Herald and Iridal have decreased to EUR 21,836 and EUR 5,318 from their original levels of EUR 52,500 and EUR 30,000 respectively.
Oak Canyon Funding Herald Series 23 and Iridal are both partially funded synthetic collateralized debt obligations (CDOs) referencing the same portfolio of 137 primarily investment grade corporate obligations.
NEW YORK -- Fitch Ratings assigns an 'AAA' rating to Iridal Public Limited Company/TCW Oak Canyon Funding EUR3,000,000 tranche B floating-rate credit link notes.
Iridal Plc provides protection to the swap counterparty via a credit default swap that is collateralized with the issuance proceeds of the notes.
Iridal Plc pays the swap counterparty for any losses due to credit events experienced in the portfolio above the threshold amount up to the balance on the notes by liquidating collateral.