S&P Releases CDO Manager Focus on AIB Capital Markets.Business Editors LONDON--(BUSINESS WIRE)--Standard & Poor's Aug. 15, 2002--Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. has released a CDO (Collaborative Data Objects) A programming interface from Microsoft for accessing MAPI-based e-mail, calendaring and scheduling servers. Originally called "OLE Messaging" and "Active Messaging," CDO wraps the Enhanced MAPI library into a COM object that provides the Manager Focus report for AIB AIB n abbr (BRIT) (= Accident Investigation Bureau) → oficina de investigación de accidentes AIB n abbr (Brit) (= Accident Investigation Bureau) → Capital Markets PLC. This report, the first of its kind published in Europe, is issued in conjunction with the rating of Clare Island Clare Island, c.6 sq mi (15 sq km), Co. Mayo, W Republic of Ireland, at the entrance to Clew Bay. There are ruins of a 13th-century Carmelite abbey and of the 16th-century castle of Grania or Grace O'Malley, queen of the island. B.V. Mario Jadotte, director at Standard & Poor's Structured Finance Ratings group in London, commented that there has been a great emphasis recently by European CDO investors on the quality of collateral managers. "The CDO Manager Focus product is intended to respond to this need by providing investors with full transparency (1) The quality of being able to see through a material. The terms transparency and translucency are often used synonymously; however, transparent would technically mean "seeing through clear glass," while translucent would mean "seeing through frosted glass." See alpha blending. on the collateral managers with respect to their experience, investment philosophy, track records, and performance on their existing CDOs," he added. Standard & Poor's CDO Manager Focus is a comprehensive report of a CDO manager's capabilities and track record developed through in-depth site visits and evaluation of past transactions. The capability report sections focus on organizational structure  This article has no lead section.To comply with Wikipedia's lead section guidelines, one should be written. , management team depth and expertise, organizational investment strategy, CDO management style, including investment process, and operations. Evaluations of past transactions focus on the performance of each outstanding CDO in the relevant asset class relative to its peers (the appropriate Standard & Poor's CDO indices) by evaluating default rates, covenant breaches, par erosion trends, sales and purchase prices, and portfolio credit quality and diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. . This report, along with all other CDO Manager Focus reports issued to date, can be found on RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com, by searching for keyword "CDO Manager Focus", or on Standard & Poor's Web site, at www.standardandpoors.com, by selecting Forum, then, under Ratings Commentary, Structured Finance, and finally, Collateralized Obligations/Derivatives Ratings. Standard & Poor's has also published "CDO Manager Quality: A Critical Consideration" to explain in greater detail its approach to conducting the Manager Focus and the benefits of this analysis. This research article is available on RatingsDirect and on www.standardandpoors.com. Inquiries regarding the AIB Capital Markets CDO Manager Focus Report should be directed to the analysts listed below. ANALYTICAL E-MAIL ADDRESSES See Internet address. e-mail address - electronic mail address gordon_wright@standardandpoors.com mario_jadotte@standardandpoors.com zoe_gleadhall@standardandpoors.com Copyright 2002, Standard & Poor's Ratings Services |
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