Sigma mega-SIV gets a few days’ grace from S&P to avoid downgrade

Sigma Finance Corp, the $39bn titan of the structured investment vehicle market, won some more breathing space this week from Standard and Poor’s, which extended its review period for Sigma’s AAA and A-1+ ratings.

  • 28 Mar 2008
Ten days ago, S&P put the SIV’s medium term notes and commercial paper on CreditWatch negative, saying it expected to make a decision within a week. To help it affirm the rating, S&P was looking for increases in capital, falling leverage, the terming out of senior funding and ...

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