U.S. Bank TruPS CDO Defaults Rise To 11%

Bank default rates within U.S. TruPS CDOs increased this past month to 11% with two additional bank failures last month, according to the latest default and deferral index results from Fitch Ratings. Poor performance has been most prevalent for banks in the West Coast, Midwest, Plains and Mountains, and Southeast states. The newly defaulted bank issuers adversely affected eight TruPS CDOs.

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