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TEXT-Fitch: ZAIS V paid in full after early termination
February 28, 2013 / 5:26 PM / 5 years ago

TEXT-Fitch: ZAIS V paid in full after early termination

Feb 28 - Fitch Ratings has marked the following classes of notes issued by
ZAIS Investment Grade Limited V (ZAIS V) as paid in full as of Feb. 22, 2013:

--Class A-1 senior secured floating-rate notes;
--Class A-2 senior secured fixed-rate notes;
--Class B-1 senior secured floating-rate notes;
--Class B-2 senior secured fixed-rate notes.

On Feb. 12, 2013, a liquidation notice declaring the mandatory redemption of all
outstanding notes was issued for ZAIS V. As a result, the remaining underlying
portfolio assets have been sold and liquidation proceeds of approximately $152
million were distributed on Feb. 22, 2013. Proceeds were sufficient to pay
classes A-1, A-2, B-1, and B-2 in full.

ZAIS V was a static cash flow SF CDO that closed on Dec. 19, 2002 and was
monitored by ZAIS GROUP, LLC. The underlying portfolio consisted of corporate
collateralized debt obligations (CDOs) and structured finance CDOs. The
transaction entered an EOD on April 27, 2009, when the deal failed to maintain a
class A overcollateralization ratio higher than 100%.

Additional information is available at ''. The ratings above
were solicited by, or on behalf of, the issuer, and therefore, Fitch has been
compensated for the provision of the ratings.

Applicable Criteria and Related Research:
--'Global Structured Finance Rating Criteria' dated June 6, 2012;
--'Global Rating Criteria for Structured Finance CDOs' dated Oct. 3, 2012.

Applicable Criteria and Related Research
Global Structured Finance Rating Criteria
Global Rating Criteria for Structured Finance CDOs

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