Fitch Upgrades 1 Class of ACAS Business Loan Trust 2002-1
Fitch Ratings upgrades one class of notes issued by ACAS Business Loan Trust 2002-1 (ACAS 2002-1). The following rating actions are effective immediately:
-- $2,274,931 class B notes upgraded to 'AAA' from 'AA-'.
ACAS Business Loan Trust 2002-1 is a collateral loan obligation (CLO) that closed on March 15, 2002. The servicer is American Capital Strategies (Nasdaq:ACAS), based in Bethesda, Maryland. The rated liabilities are supported by the cash flows of a static portfolio of high yield loans to middle market U.S. businesses, a majority of which are privately owned. The loans were made for the purpose of working capital, growth, acquisitions, and recapitalizations. The loan obligors operate in several industries, including industrial and consumer manufacturing, retail, and services. A majority of the loans are subordinate loans, with the remaining balance divided between senior unsecured and senior secured obligations.
Read More...
Fitch Ratings upgrades one class of notes issued by ACAS Business Loan Trust 2002-1 (ACAS 2002-1). The following rating actions are effective immediately:
-- $2,274,931 class B notes upgraded to 'AAA' from 'AA-'.
ACAS Business Loan Trust 2002-1 is a collateral loan obligation (CLO) that closed on March 15, 2002. The servicer is American Capital Strategies (Nasdaq:ACAS), based in Bethesda, Maryland. The rated liabilities are supported by the cash flows of a static portfolio of high yield loans to middle market U.S. businesses, a majority of which are privately owned. The loans were made for the purpose of working capital, growth, acquisitions, and recapitalizations. The loan obligors operate in several industries, including industrial and consumer manufacturing, retail, and services. A majority of the loans are subordinate loans, with the remaining balance divided between senior unsecured and senior secured obligations.
Read More...
posted by Mohd Amin | 8:35 AM
0 Comments:
Post a Comment
<< Home