Investors have apparently given American Capital Access a strong vote of confidence, as the borderline single-A rated surety priced its new issue CDO today, following two weeks of seesawing headlines. ACA ABS 2004-1, a structured finance CDO, was brought to market by Merrill Lynch.

The senior triple-A class came at an impressive 37 basis points over three-month Libor. Sources report the deal was upsized to $450 million, from the $400 million announced the last week of April.

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