S&P Lowers Ratings on Duesenberg CSO 2001-3 LLC Notes.
Business Editors
July 15, 2002-- Standard & Poor's today lowered its ratings on two tranches of Duesenberg CSO 2001-3 LLC's credit-linked notes (see list).
The downgrades reflect the valuation prices of previously defaulted reference credits as well as credit deterioration
The ratings on the notes also reflect the level of credit enhancement provided by subordination, Duesenberg's ability to meet its payment obligations as issuer of the notes, and its commitment to follow strict guidelines established for maintenance of the pool of reference credits.
RATINGS LOWERED
Duesenberg CSO 2001-3 LLC
Credit-linked notes
Rating
Class To From
C due August 2006 BBB BBB+
D due August 2006 B BB+
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