Little subprime fallout for Asia banks, investors jittery

(Reuters) - Ratings agency Moody's Investors Service said on Friday
that the impact of the subprime meltdown on Asia's lenders
would be limited, with the largest exposure among the biggest
banks through holdings of mortgage-backed securities and
collateralised debt obligations. [ID:nWNA7262]




Standard & Poor's said Japanese banks have about $8 billion
of subprime-related securities, according to the Japanese
Bankers Association, while a small number of financial services
firms in Taiwan have a much smaller combined level of exposure.
[ID:nSPWAcEJwa]


Read more at Reuters.com Bonds News

UPDATE 1-Moody's may cut $5.0 bln of CDO RMBS tranches

(Reuters) - Moody's said the CDO tranches affected were rated "Baa" or
lower and the move follows cuts it made on Tuesday to 399 RMBS
secured by subprime mortgage loans. Moody's also placed 32
additional issues under review for downgrade on Tuesday.




"The rating actions taken today were based on the CDOs'
current respective portfolios and the CDOs' structures,"
Moody's said. The rating agency said it was reviewing whether
current ratings assigned were still consistent with revised
loss expectations.


Read more at Reuters.com Bonds News

UPDATE 2-Fitch, S&P cut Hilton's rating on acquisition

(Reuters) - Another agency, Moody's Investors Service, said it may cut
Hilton's ratings and will base its decision on the company's
capital structure when the deal closes.




Blackstone agreed on Tuesday to buy Hilton for about $20
billion plus debt, the richest in a series of recent private
equity offers for hotel companies. For details see
[ID:nN03234692].


Read more at Reuters.com Bonds News

UPDATE 1-RLPC-Magnum Coal pulls $350 mln bond sale -sources

(Reuters) - Lehman Brothers was the lead manager for the seven-year,
second-lien secured notes.




Magnum Coal is rated "B3" by Moody's Investors Service and
"B-minus" by Standard & Poor's, the sixth highest junk rating.


Read more at Reuters.com Bonds News

Lennar's outlook now negative, was stable - Moody's

(Reuters) - Lennar, the No. 3 U.S. home builder, has been hurt by a
steep downturn in the housing market as climbing interest rates
and a crisis in the subprime mortgage area curb demand.




Moody's now rates Lennar's senior unsecured debt "Baa2,"
the second-lowest investment-grade rating.


Read more at Reuters.com Bonds News

Nasdaq's rating outlook negative, was stable-Moody's

(Reuters) - Debt taken on for the acquisition will reduce Nasdaq's
financial flexibility and increase leverage to a level that is
high for its "Ba3" rating, Moody's said in a statement. A "Ba3"
rating is three steps below investment grade.




"Nonetheless, Moody's believes that the Nasdaq OMX Group
should have a strong capacity to generate cash and reduce
leverage, if management chooses to do so," the rating agency
said.


Read more at Reuters.com Mergers News