Fitch Downgrades 4 & Affirms 2 Classes of Straits Global ABS CDO I, Ltd.

NEW YORK--(BUSINESS WIRE)--Fitch Ratings has downgraded four and affirmed two classes of notes issued by Straits Global ABS CDO I, Ltd. (Straits I) due to deterioration in the credit quality of the portfolio since last review in April 2009. A detailed list of rating actions follows at the end of this release. Straits CDO I declared an event of default (EOD) on May 7, 2008 following a decline of the class A/B overcollateralization (OC) ratio to below 100%. On Jan. 27, 2009, the majority of the cl

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