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RPT-Fitch Downgrades Opera Finance CMH; Withdraws Ratings
May 19, 2014 / 12:46 PM / 3 years ago

RPT-Fitch Downgrades Opera Finance CMH; Withdraws Ratings

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May 19 (Reuters) - (The following statement was released by the rating agency)

Fitch Ratings has downgraded the ratings of Opera Finance CMH p.l.c. class C and D notes, due January 2015, and withdrawm them as follows:

EUR31m Class C (XS0241935195): downgraded to ‘Dsf’ from ‘Csf’; Recovery Estimate (RE) 20% and withdrawn

EUR35m Class D (XS0241935609): downgraded to ‘Dsf’ from ‘Csf’; RE 0% and withdrawn

KEY RATING DRIVERS

The withdrawal follows final payment made by the special servicer of the class A, B and C notes on 11 February 2014. The downgrade reflects the respective partial and full write-downs of the class C and D notes. All the notes were delisted on 14 February 2014 and cancelled on 17 February 2014.

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