Fitch: U.S. Bank TruPS CDOs Combined Default & Deferral Rate Declines

NEW YORK--(BUSINESS WIRE)-- The number of combined defaults and deferrals for U.S. bank TruPS CDOs decreased marginally to 19.7% at the end of May from 19.8% at the end of April, according to the latest index results published today by Fitch Ratings.

In May, two banks representing $15 million of notional in two CDOs cured. There were no new deferrals or defaults in May. One issuer that has been deferring since March 2010, with a notional of $4 million in one CDO, was sold from the portfolio with an estimated recovery of 13.8%.

Across 78 Fitch-rated TruPS CDOs, 231 defaulted bank issuers remain in the portfolio, representing approximately $5.8 billion of collateral. Currently 146 issuers are deferring interest payments on $1.7 billion of collateral compared with 223 issuers that were deferring on $2.6 billion of collateral in May 2014. The reduction in the deferrals is primarily due to cures, and (to a smaller extent) to defaults, sales, and removal of the deferring collateral related to CDOs that are no longer rated by Fitch.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Bank TruPS CDO Index' (April 29, 2015).

Fitch: U.S. Bank TruPS CDOs Combined Default & Deferral Rate Declines

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=867340

Related Research

Bank TruPS CDO Quarterly Index

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=865158

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150612005716/en/

Fitch Ratings
Azadeh Sharif
Associate Director
+1-212-908-0874
Fitch Ratings, Inc.
33 Whitehall Street
New York, NY 10004
or
Todor Sapundzhiev
Associate Analyst
+1-312-368-3198
or
Alina Pak, CFA
Senior Director
+1-312-368-3184
or
Media Relations:
Sandro Scenga, +1-212-908-0278
[email protected]

Source: Fitch Ratings

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Federal Home Loan Bank of Indianapolis Announces Second Quarter 2026 Dividends, Reports Earnings
• Qisda Group's AEWIN Launches Comprehensive Server Portfolio Featuring AMD EPYC™ 9006 Series Server CPUs
• Indian PharmD Graduate Satyavardhan Rao Nittu Honored with Outstanding Merit Certificate at University of Florida