Hot sectors in a tepid recovery
The energy, finance, technology and healthcare industries are expected to be the hottest areas for dealmaking in 2010. Full Article | Full Coverage
Moody's takes action on Kleros Preferred Funding II, Ltd.
(The following statement was released by the rating agency)
May 19 - Moody's Investors Service announced today that it has downgraded and placed on review for possible further downgrade the ratings on the following notes issued by Kleros Preferred Funding II, Ltd. Class Description: U.S.$250,000 Class A-1V First Priority Senior Secured Voting Floating Rate Notes Due December 2042 Prior Rating: Aaa Current Rating: Aa2, on review for possible downgrade Class Description: U.S.$869,750,000 Class A-1NV First Priority Senior Secured Non-Voting Floating Rate Notes Due December 2042 Prior Rating: Aaa Current Rating: Aa2, on review for possible downgrade Class Description: U.S.$60,000,000 Class A-2 Second Priority Senior Secured Floating Rate Notes Due December 2042 Prior Rating: Aaa Current Rating: Baa2, on review for possible downgrade Class Description: U.S.$34,000,000 Class B Third Priority Senior Secured Floating Rate Notes Due December 2042 Prior Rating: Aa2 Current Rating: Ba2, on review for possible downgrade Class Description: U.S.$8,000,000 Class C Fourth Priority Senior Secured Floating Rate Notes Due December 2042 Prior Rating: Aa3 Current Rating: B1, on review for possible downgrade Additionally, Moody's downgraded the following notes: Class Description: U.S.$9,650,000 Class D Fifth Priority Mezzanine Secured Deferrable Floating Rate Notes Due December 2042 Prior Rating: A2, on review for possible downgrade Current Rating: Ca Class Description: U.S.$11,000,000 Class E Sixth Priority Mezzanine Secured Deferrable Floating Rate Notes Due December 2042 Prior Rating: Baa2, on review for possible downgrade Current Rating: Ca According to Moody's, the rating actions reflect increased deterioration in the credit quality of the structured finance securities.
