Fitch Rates CapitalSource Commercial Loan Company, LLC 2007-3
NEW YORK–(BUSINESS WIRE)–Fitch assigns the following ratings to CapitalSource Commercial Loan Company, LLC 2007-3 (CapitalSource 2007-3):
–US$380,000,000 class A Floating Rate Asset Backed Notes due January 2016 ‘AAA’;
–US$10,000,000 class B Floating Rate Deferrable Asset Backed Notes due January 2016 ‘AA’;
–US$45,000,000 class C Floating Rate Deferrable Asset Backed Notes due January 2016 ‘A’;
–US$4,000,000 class D Floating Rate Deferrable Asset Backed Notes due January 2016 ‘BBB;
–US$41,350,000 class E Principal Only Asset Backed Notes due January 2016 ‘BB’.
The rating of the class A notes addresses the likelihood that investors will receive full and timely payments of interest based on the class A Interest Amount, as per the governing documents, as well as the stated balance of principal by the legal final maturity date. The rating of the class B and C notes addresses the likelihood that investors will receive ultimate and compensating interest payments based on the class B and class C Interest Amounts and class B and class C Accrued Payable provision, as per the governing documents, as well as the stated balance of principal by the legal final maturity date. The rating of the class D notes addresses the likelihood that investors will receive ultimate and compensating interest payments as per the governing documents, as well as the stated balance of principal by the legal final maturity date.
As announced in Fitch’s Rating Action Commentary titled ‘Fitch Clarifies Position on New Issue CDO Ratings’ published on its website on November 6th, 2007, Fitch is currently in the process of reviewing its rating methodology and model assumptions for all new issue CDO ratings. Investors should be aware that Fitch is reassessing its analytic views which could impact existing ratings, including the expected ratings assigned to the securities in this press release.
Fitch will monitor the performance of this transaction. Deal information and historical data on CapitalSource Commercial Loan Company, LLC 2007-3 is available on the Fitch Ratings web site at www.fitchratings.com.
Fitch’s rating definitions and the terms of use of such ratings are available on the agency’s public site, www.derivativefitch.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 means Fitch, Inc., Fitch Ratings, Ltd. and their subsidiaries including Derivative Fitch, Inc. and Derivative Fitch Ltd. and any successor or successors thereto.
Contact:
Fitch Ratings, New York
Mark Kirk, 212-908-0772
Sandro Scenga, 212-908-0278 (Media Relations)
