Crown City CDOs Default On Lehman Exposure

Crown City CDO 2005-1 and 2005-2 have experienced an event of default following Lehman Brothers’ bankruptcy filing last month, leading Standard & Poor’s to cut ratings today on eight classes of notes across both collateralized debt obligations and withdraw ratings on another eight classes.

  • 08 Oct 2008

--Leela Parker

Crown City CDO 2005-1 and 2005-2 have experienced an event of default following Lehman Brothers’ bankruptcy filing last month, leading Standard & Poor’s to cut ratings today on eight classes of notes across both collateralized debt obligations and withdraw ratings on another eight classes. Western Asset Management ...

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