News Column

Fitch Publishes CLO Indenture Abstract for Cedar Funding Ltd./Corp.

February 12, 2014

NEW YORK--(BUSINESS WIRE)-- Link to Fitch Ratings' Report: Cedar Funding Ltd./Corp. - CLO Indenture Abstract

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=729757

Fitch Ratings has published the CLO Indenture Abstract for Cedar Funding Ltd./Corp. (Cedar Funding).

Fitch's CLO Indenture Abstract describes important features of a CLO indenture and provides commentary on how these features work and comparisons with other recently issued CLOs. The report includes Fitch's commentary related to:

--Collateral quality tests;

--Concentration limitations;

--Coverage tests;

--Priority of payments;

--Conditions to reinvestment;

--Events of default;

--Manager replacement provisions;

--Call provisions;

--Indenture amendments; and

--Reporting requirements.

The Fitch CLO Indenture Abstract for Cedar Funding is available at 'www.fitchratings.com' or by clicking on the link above.

Additional information is available at 'www.fitchratings.com'.

Applicable Criteria and Related Research:

--'Global Structured Finance Rating Criteria' (May 24, 2013);

--'Global Rating Criteria for Corporate CDOs' (Aug. 8, 2013);

--'Criteria for Interest Rate Stresses in Structured Finance Transactions and Covered Bonds' (Jan. 23, 2014);

--'Counterparty Criteria for Structured Finance and Covered Bonds' (May 13, 2013);

--'Cedar Funding Ltd. New Issue Report' (June 25, 2012);

--'Cedar Funding Ltd. -- Appendix' (June 25, 2012).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=708661

Global Rating Criteria for Corporate CDOs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715492

Criteria for Interest Rate Stresses in Structured Finance Transactions and Covered Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=725537

Counterparty Criteria for Structured Finance and Covered Bonds

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=707155

Cedar Funding Ltd.

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682504

Cedar Funding Ltd.

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=682008

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.



Fitch Ratings

Primary Analyst

Aaron Hughes

Director

+1-312-368-2074

Fitch Ratings, Inc.

70 West Madison Street

Chicago, IL 60602

or

Secondary Analyst

Barbara Burdzy

Director

+1-212-908-0813

or

Media Relations:

Sandro Scenga, +1-212-908-0278 (New York)

sandro.scenga@fitchratings.com


Source: Fitch Ratings


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