Fitch Downgrades & Withdraws Trapeza Capital Management's TruPS CDO Asset Manager...

Fitch Downgrades & Withdraws Trapeza Capital Management's TruPS CDO Asset Manager Rating

NEW YORK--(Business Wire)--
Fitch Ratings has downgraded Trapeza Capital Management's
(Trapeza) trust preferred CDO asset manager rating to 'CAM2-' from
'CAM2' due to performance deterioration. Fitch has simultaneously
withdrawn the 'CAM2-'rating, as Trapeza has elected to no longer
provide the access and information necessary to maintain the CAM
rating.

Fitch rates CDO asset managers by asset class, on a scale of 1 to
5, with 1 being the highest rating. The rating scale includes plus
('+') and minus ('-') designations, along with flat ratings. These
ratings are based on a standardized scorecard methodology that
includes factors in each of the seven groups as noted above.

Fitch's rating definitions and the terms of use of such ratings
are available on the agency's public site, www.fitchratings.com.
Published ratings, criteria and methodologies are available from this
site, at all times. Fitch's code of conduct, confidentiality,
conflicts of interest, affiliate firewall, compliance and other
relevant policies and procedures are also available from the 'Code of
Conduct' section of this site.

Fitch Ratings
Russ Thomas, +1-312-368-3189 (Chicago)
Said Rafat, +1-212-908-0337 (New York)
Sandro Scenga, +1-212-908-0278
(Media Relations, New York)

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