Currently in the European market with a $250 million to $350 million collateralized bond obligation called TCW Euro GEM I, the emerging markets/fixed-income group at Trust Company of the West continues establishing itself as a benchmark CBO asset management group.

Case in point: the TCW GEM II senior notes, which, like the Euro GEM I notes, are backed by emerging markets debt, were upgraded to their 1997 issue-date ratings last month, a truly unique event considering the drop in credit rating of emerging market debt since that time, according to sources at the ratings agencies.

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