Agency removes vehicle from Rating Watch Negative; investors pleased with constructive outcome

A mere 20 days after Fitch Ratings took the somewhat controversial action of placing the long-term and short-term ratings of Gordian Knot's structured investment vehicle, Sigma Finance Inc., on Rating Watch Negative (see ASR 2/18/02 p. 1), the rating agency reversed course, removing the SIV from Rating Watch last Wednesday and affirming its AAA' and F1+' senior debt ratings.

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