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Fitch Downgrades and Withdraws Rating on ABSpoke 2005-VA, Ltd.

Thursday, March 1, 2012 1:44 PM


Fitch Ratings downgrades and withdraws the rating on the class of notes issued by ABSpoke 2005-VA, Ltd. (ABSpoke 2005-VA) as follows:

-- $0 ABSpoke 2005-VA variable floating rate notes downgraded to 'Dsf' from 'Csf' and withdrawn.

The outstanding balance of the notes had been completely written down at termination.

ABSpoke 2005-VA was a partially funded, synthetic collateralized debt obligation (CDO) that closed on May 5, 2005. The transaction allowed investors to achieve leveraged exposure to a diversified portfolio of asset-backed securities.

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

The information used to assess these ratings was sourced from the issuer, periodic trustee reports, note valuation reports, and the public domain.

Applicable Criteria and Related Research:

-- 'Global Structured Finance Rating Criteria' (Aug. 4, 2011);

-- 'Global Rating Criteria for Structured Finance CDOs' (Oct. 6, 2011).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=646569

Global Rating Criteria for Structured Finance CDOs
http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=651560

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE.

(Source: Business Wire )
(Source: Quotemedia)

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