TEXT-S&P lowers Eaton Vance CDO II Ltd. class A rating to 'D (sf)'

Mon Aug 27, 2012 9:27am EDT

Aug 27 - Standard & Poor's Ratings Services today lowered its rating on the class A notes from Eaton Vance CDO II Ltd. to 'D (sf)' from 'CC (sf)'. Eaton Vance CDO II Ltd. is a collateralized bond obligation (CBO) transaction.

According to the July 16, 2012, payment date report (July 16 was also the final payment date for the transaction), the available proceeds were insufficient to pay the class A noteholders in full. Therefore, we lowered our rating on the class A notes to 'D (sf)' in accordance with our criteria.

RELATED CRITERIA AND RESEARCH

-- Global Structured Finance Scenario And Sensitivity Analysis: The Effects Of The Top Five Macroeconomic Factors, Nov. 4, 2011

-- Principles of Credit Ratings, Feb. 16, 2011

-- Surveillance Methodology For Global Cash Flow And Hybrid CDOs Subject To Acceleration Or Liquidation After An EOD, Sept. 2, 2009

-- Understanding Standard & Poor's Rating Definitions, June 3, 2009

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