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January 11, 2008 |
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HAVENROCK II: Fitch Withdraws Junk Ratings on IKB Loans Fitch Ratings has affirmed and simultaneously withdrawn the ratings of the loan facilities provided by IKB Deutsche Industriebank AG and IKB International S.A. to Havenrock II Limited: -- US$165 million loan provided by IKB International: affirmed at 'CC/DR2'; Rating withdrawn -- US$404.875 million facility C loan provided by IKB: affirmed at 'CC/DR2'; Rating withdrawn -- US$43.75 million facility B loan provided by IKB: affirmed at 'CC/DR6'; Rating withdrawn US$11,375,000 facility A loan provided by IKB: affirmed at 'CC/DR6'; Rating withdrawn The 364-day committed facilities could be drawn on to cover Havenrock II's obligations under a credit default swap. The withdrawal of the ratings follows notification from IKB on Jan. 7, 2008, that Fitch would no longer be receiving information on the loan facilities provided by IKB and IKB International to Havenrock II. Thus, Fitch will no longer be able to provide ratings or analytical coverage of Havenrock II. |
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