Feb 11 (Reuters) - (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Fitch Ratings has today withdrawn the rating on E. Sun Bank 2007-2 CBO Securitisation Special Purpose Trust’s (the trust) class C bond, as follows:
NTD0.87bn* Class C interest deferrable coupon bond due February 2016: ‘Dsf(twn)’ rating withdrawn
*The cumulative deferrable interest for the Class C bonds has reached its cap of NTD89m
The rating has been withdrawn due to the termination of the trust on the 10 February 2014 payment date.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.