Fortis Investments has created a U.S. ABS team as part of its U.S. fixed-income and structured credit unit and plans to offer two CDOs before the end of the year, company sources said.

Will Braman, U.S. CEO of Fortis, said both of the deals will be fully funded structured finance CDOs and will be brought to market by separate investment banks. One of the deals will be a roughly $700 million offering backed by single-A or higher rated securities, with the other possibly totaling $400 million backed by triple-B rated collateral.

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