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Annaly Capital Management's FIDAC Subsidiary Appointed CDO Collateral Manager for Citation High Grade ABS CDO I, Ltd.

Publication: Business Wire
Publication Date: 23-JUL-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Annaly Capital Management, Inc. (NYSE: NLY) ("Annaly" or "the Company") announced today that its wholly-owned subsidiary, Fixed Income Discount Advisory Company ("FIDAC"), has been appointed the collateral manager for Citation High Grade ABS CDO I, Ltd. ("Citation"), a collateralized debt obligation ("CDO") which has experienced an Event of Default ("EOD") due to downgrades. Citation commenced operations in January 2007 with $1.1 billion original face amount of residential mortgage-backed securities. FIDAC was appointed to help restructure the CDO to maximize value for the...

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