SIV managers feel more pressure
After Moody’s took rating actions on about $130bn of debt — including negative actions on all seven Citigroup SIVs — on Friday, the need for restructurings continued to grow for managers this week. Moody’s confirmed that HSH Nordbank has added full committed liquidity to its Carrera SIV, as revealed by EuroWeek last week. Read EuroWeek on Friday to see what other solutions SIV managers are working on.
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