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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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Fitch Ratings is a leading global rating agency committed to providing the world's credit markets with independent, timely and prospective credit opinions. Built on a foundation of organic growth and strategic acquisitions, Fitch Ratings has grown rapidly during the past decade gaining market presence throughout the world and across all fixed income markets.


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