Events | 2009.09.03
Fitch Downgrades Cloverie Plc 2006-3; Assigns Recovery Rating
NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded and assigned a Recovery Rating (RR) to the sole class of notes issued by Cloverie Plc 2006-3 (Cloverie 2006-3). Cloverie 2006-3 experienced multiple Failure to Pay Principal Credit Events with respect to obligations within the reference portfolio. The cumulative cash settlement amount is $38,907,373.16 and was due Aug. 24, 2009. The cash settlement represents a 96.4% current write down or loss to the notes. The notes have been downgraded to
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