Fitch reviews real estate Trups CDOs

Fitch has started a review of CDOs backed by trust-preferred securities and issued by real estate investment trusts. The rating agency says continued deterioration of underlying collateral has caused it to place $5.4bn of rated liabilities across 120 classes of 15 Trups CDOs on negative rating watch. Fitch has placed the entire capital structure on negative watch for five of the 15 transactions affected. Fitch blames its action on weakening credit quality of Trups issuers, particularly the credi

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