S&P downgrades Victoria SIV

01/9/2008 | Financial Times (free content)

Standard & Poor's downgraded the $6 billion Victoria SIV to B minus, and analysts say ratings of other SIVs may soon follow. "The Victoria news is another nail in the coffin for SIVs," said Christian Stracke, analyst at CreditSights. "Nearly all of those SIV programs that don't have bank sponsors have been in serious trouble for a while."

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