Fitch: U.S. Bank TruPS CDOs Combined Default & Deferral Rate Remained Low
OREANDA-NEWS. The number of combined defaults and deferrals for U.S. bank TruPS CDOs remained at 17.4% at the end of January compared to the previous month, according to the latest index results published today by Fitch Ratings.
In January, two performing issuers representing $7.7 million across two CDOs redeemed their TruPS. There were no new deferrals, defaults, or cures in January.
Across 74 Fitch-rated Bank and mixed Bank & Insurance TruPS CDOs, 228 defaulted bank issuers remain in the portfolio representing approximately $5.2 billion of collateral. As of January 2016, 104 issuers are deferring interest payments on $1.3 billion of collateral compared to 167 bank issuers ($1.9 billion of notional) deferring at the end of January 2015.