OREANDA-NEWS. S&P Global Ratings Services today raised our ratings on eight tranches from six investment-grade corporate-backed U. S. synthetic CDO (SCDO) transactions and removed them from CreditWatch positive. At the same time, we raised our rating on one tranche from one U. S. SCDO transaction backed by corporate CDOs (see list).

The rating actions followed our periodic review of synthetic CDO transactions.

The upgrades reflect the transactions' seasoning, rating stability of the obligors in the underlying reference portfolio over the past few months, and a synthetic rated overcollateralization ratio that rose above 100% at the next highest rating level as of the latest run, passing with sufficient cushion per our criteria.

We will continue to review whether, in our view, the ratings assigned to the notes remain consistent with the credit enhancement available to support them, and we will take further rating actions as we deem necessary.