One class of CAM CBO I Ltd. was recently downgraded by Fitch Ratings. The $21M class B notes of CAM CBO I, managed by Conning Asset Management were downgraded to 'BB-' from 'BBB'. According to Fitch, due to the failure of two of the O/C tests, interest cash flows are being captured to pay down the class A notes. As a result, the class C notes have deferred interest for the past several payment periods. The deal is also paying down due to the end of the revolving period in December 2002, the agency reported.
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The capital structure features initial exchangeable notes among the class A, mezzanine and B1 notes. The super senior and senior support tranches will repay noteholders on a pro-rata basis.
May 2 -
The company's branches and loan officers will transition to ML Mortgage but operations staff are not part of the deal.
May 2 -
Note payments are linked to two tranched credit default swap (CDS) transactions, one related to the reference obligation between the issuer and SoFi Bank and SoFi Lending and the Issuer.
May 1 -
The Federal Open Market Committee held the federal funds rate at current levels, citing "lack of further progress" toward meeting inflation goals.
May 1 -
During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.
May 1 -
House Republicans held a subcommittee hearing on reforming bank merger M&A, laying the groundwork to counter Biden administration efforts to make it more difficult for mergers to be approved.
May 1