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Article Excerpt
NEW YORK -- Fitch Ratings takes various actions on five classes of notes issued by Porter Square CDO II, Ltd./Inc. (Porter Square II) as follows:
--$6,794,520 class A-1 notes affirmed at 'AAA', Outlook Stable;
--$65,000,000 class A-2 notes downgraded to 'B' Outlook Stable from 'AA', removed from Rating Watch Negative;
--$23,500,000 class B notes downgraded to 'CCC' from 'BBB+', removed from Rating Watch Negative;
--$10,232,944 class C notes downgraded to 'C' from 'BBB-', removed from Rating Watch Negative;
--$8,796,591 class D notes downgraded to 'C' from 'BB-', removed from Rating Watch Negative.
The class A-1 and A-2 notes were assigned Stable Outlooks reflecting Fitch's expectation that the ratings will remain stable over...
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