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  • Asset-backed securities boutique Wharton Asset Management is marketing an innovative CDO that will use repurchase agreements and funded notes to achieve a cheaper liability cost for a Eu2bn porfolio of mainly triple-A ABS.
  • Moody's Investors Service has revised its outlook on Revlon Consumer Products from negative to developing following the company's announcement last month that its board of directors authorized management to begin exploring various alternatives to strengthen its balance sheet and increase equity.
  • Sanjeev Handa is a managing director and head of more than $9 billion in asset-backed investments at TIAA-CREF in New York.
  • The price of default protection on companies linked with air travel jumped last week after a British Airways flight to Washington was grounded because of fears it was being targeted by terrorists.
  • Michael Rosenberg, co-head of the global credit collateralized debt obligation group at UBS Securities, has been transferred from the firm's Stamford, Conn. office to London.
  • Transwestern Pipeline has tapped Wachovia to lead its $550 million refinancing facility.
  • Werner Holding Co.'s bank debt also ran up on the wings of the market rally.
  • Wyndham International's bank debt was stronger last week with the company's term loan "B" trading as high as the 96-97 range and its increasing rate loan (IRL) moving in the 961/4-971/4 range.
  • Credit Suisse First Boston plans to introduce an evaluation tool for corporate bond investors that incorporates correlated factors including equity volatility and credit default swap movements
  • The pilot program extending the assignment of CUSIP numbers to loans is now complete and The Loan Syndications Trading Association (LSTA) and Standard & Poor's plan to expand the identifiers to all syndicated loans.
  • DebtTraders, a broker dealer that specializes in distressed and high-yield debt, plans to increase its European presence by adding professionals to its London office.
  • Syndication is set to launch Thursday for the $250 million in bank debt backing Ionics' acquisition of Ecolochem.