S&P puts Asscher and K2 SIVs on watch

Standard & Poor’s placed the senior debt of the HSBC-sponsored Asscher Finance SIV and K2 Corp, sponsored by Dresdner Bank, on CreditWatch Negative this week because restructuring efforts for the vehicles have yet to be completed. Last week, Standard Chartered’s Whistlejacket SIV defaulted after the sponsor said it would not restructure the vehicle, as it had planned. Read EuroWeek on Friday to find out whether that was a one-off, or whether SIV investors have more to fear.