Feb 11 (The following statement was released by the rating agency)
Fitch Ratings has today withdrawn the
rating on E. Sun Bank 2007-2 CBO Securitisation Special Purpose Trust's (the
trust) class C bond, as follows:
NTD0.87bn* Class C interest deferrable coupon bond due February 2016: 'Dsf(twn)'
*The cumulative deferrable interest for the Class C bonds has reached its cap of
The rating has been withdrawn due to the termination of the trust on the 10
February 2014 payment date.
The remaining underlying US dollar-denominated zero coupon bonds issued by
Citigroup Inc. (Citigroup, A/Stable/F1) in this securitisation were redeemed in
December 2013. The proceeds from the trust were used to pay off the class A2
zero coupon bonds, the class B interest deferrable coupon bonds and class B's
cumulative deferrable interest.
The remaining funds were not sufficient to pay off the class C interest
deferrable coupon bonds in full.
Fitch will no longer calculate the Recovery Estimate for this class following
the withdrawal of the rating.