EURUSD

i have changed my mind looking for 3550-3600 today

Moody's Reviews For Downgrade Aaa Ratings Of Most Greek Structured Finance And Covered Bond Transactions

DOW JONES NEWSWIRES

PRESS RELEASE: Moody's Reviews For Downgrade Aaa Ratings Of Most Greek Structured Finance And Covered Bond Transactions


The following is a press release from Moody's Investors Service:



Paris, February 19, 2010 -- Moody's Investors Service today placed the Aaa
ratings of all except one Greek ABS, RMBS, CLO and covered bond
transactions under review for possible downgrade. A complete list of
affected transactions is at the end of this press release. The affected
transactions include nine ABS, eleven RMBS, two CLO and one covered bond
programme which are all backed by pools of Greek assets. There is no
Greek CMBS rated by Moody's.

Today's rating actions result from an initial assessment of these highly
rated Greek structured finance and covered bond transactions within the
context of the evolving sovereign situation as well as the current
economic and financial environment. This included a consideration of the
existing credit enhancement levels because, in the event of the local
economy coming under further stress, the default probability of the
assets in the underlying pools may potentially increase. In addition
certain deals are also exposed to both refinancing risk and local banks.

As the Greek public finance situation has markedly deteriorated and is
likely to remain highly challenging, Moody's downgraded the government
bond rating to A2 from A1 last December and changed the outlook to
negative. Given the macroeconomic stress likely to be associated with
efforts to address the deficit we are reassessing the adequacy of the
credit supports on these transactions at their current rating levels.
Specifically, Moody's review will focus on whether the incremental loss
to the worsened environment is compatible with the Aaa ratings assigned
to the existing transactions.

Moody's notes that in one transaction, Karta 2005 plc, a credit card ABS
transaction, the Aaa rating of the Class A notes has not been affected as
it benefits from structural elements. This transaction has entered into a
cash accumulation period (during which all proceeds are kept in cash
rather than reinvested in assets) and the Class A notes are currently
cash collateralised at 91.4% with cash held with a highly rated bank
(Deutsche Bank, London Branch) located in the UK. In view of the very
high degree of certainty of repayment of these notes with funds already
collected by Karta APC Ltd , Moody's has concluded that the credit risk
of these notes remains consistent with a Aaa rating.

In the press release issued on 4 February 2010, entitled "Moody's reviews
criteria for Greek structured finance transactions", Moody's announced it
was reviewing the potential implications of the changing situation in
Greek public finances for structured finance ratings. Until Moody's
concludes its review, the rating agency said it will not issue any new
Aaa ratings to Greek structured finance transactions or covered bonds.
Upon completion of the review, existing and future ratings will be
assessed using the new criteria. In the meantime, Moody's will continue
to monitor existing transactions, and rating actions may be taken based
on the characteristics and general performance of these transactions in
the current macro-economic environment.

List of Affected Ratings:

ABS

Anaptyxi SME I: EUR 1750M A Certificates, Aaa Placed Under Review for
Possible Downgrade; previously on July 7, 2008 Assigned Aaa

Axia III Finance Plc: EUR1670.1M A Certificate, Aaa Placed Under Review
for Possible Downgrade; previously on Aug 17, 2009 Assigned Aaa

DANEION 2007-1 PLC: EUR1587.5M Class A Certificate, Aaa Placed Under
Review for Possible Downgrade; previously on Nov 27, 2007 Assigned Aaa

Gaia Lease Plc: EUR272.6M A Notes, Aaa Placed Under Review for Possible
Downgrade; previously on Aug 14, 2009 Assigned Aaa

IRIDA PLC: EUR261.1M A Certificate, Aaa Placed Under Review for Possible
Downgrade; previously on Dec 11, 2009 Assigned Aaa

PRAXIS I FINANCE PLC: .EUR493M A Certificate, Aaa Placed Under Review for
Possible Downgrade; previously on Apr 30, 2009 Assigned Aaa

Praxis II Finance Plc: EUR379.2M A Certificate, Aaa Placed Under Review
for Possible Downgrade; previously on Aug 14, 2009 Assigned Aaa

Misthosis Funding Plc: EUR363.9M A Certificate, Aaa Placed Under Review
for Possible Downgrade; previously on Sep 21, 2009 Assigned Aaa

Synergatis Plc: EUR1414.5M A Certificate, Aaa Placed Under Review for
Possible Downgrade; previously on Aug 19, 2009 Assigned Aaa

RMBS

Estia Mortgage Finance II PLC: EUR1137.5M A Notes, Aaa Placed Under
Review for Possible Downgrade; previously on Jul 25, 2007 Definitive
Rating Assigned Aaa

Grifonas Finance No. 1 Plc: EUR897.7M A Certificate, Aaa Placed Under
Review for Possible Downgrade; previously on Aug 30, 2006 Definitive
Rating Assigned Aaa

Themeleion Mortgage Finance PLC: EUR693.5M A Notes, Aaa Placed Under
Review for Possible Downgrade; previously on Jun 14, 2004 Definitive
Rating Assigned Aaa

Themeleion II Mortgage Finance Plc: EUR690M A Certificate, Aaa Placed
Under Review for Possible Downgrade; previously on Jun 21, 2005
Definitive Rating Assigned Aaa

Themeleion III Mortgage Finance Plc S.r.I.: EUR900M A Certificate, Aaa
Placed Under Review for Possible Downgrade; previously on Jun 26, 2006
Definitive Rating Assigned Aaa

Themeleion IV Mortgage Finance Plc: EUR1352.9M A Certificate, Aaa Placed
Under Review for Possible Downgrade; previously on Jun 21, 2007
Definitive Rating Assigned Aaa

Themeleion V Mortgage Finance Plc: EUR957.8M A Certificate, Aaa Placed
Under Review for Possible Downgrade; previously on Feb 27, 2008 Assigned
Aaa

Themeleion VI Mortgage Finance Plc: EUR1560.9M A Certificate, Aaa Placed
Under Review for Possible Downgrade; previously on Nov 19, 2008 Assigned
Aaa

KATOIKIA I MORTGAGE FINANCE PLC: EUR886.6M A Notes, Aaa Placed Under
Review for Possible Downgrade; previously on May 20, 2009 Assigned Aaa

KION Mortgage Finance Plc: EUR553.8M A Certificate, Aaa Placed Under
Review for Possible Downgrade; previously on Dec 7, 2006 Definitive
Rating Assigned Aaa

KION Mortgage Finance No. 2 Plc: EUR522.405M A Certificate, Aaa Placed
Under Review for Possible Downgrade; previously on Jul 18, 2008 Assigned
Aaa

CLO

Axia II Finance PLC: EUR459M Class A Asset Backed Floating Rate Notes due
2031 Notes, Aaa Placed Under Review for Possible Downgrade; previously on
May 7, 2009 Assigned Aaa

EPIHIRO PLC (Athena Project): EUR1623M Euro 1,623,000,000 Class A Asset
Backed Floating Rate Notes due January 2035 Notes, Aaa Placed Under
Review for Possible Downgrade; previously on May 20, 2009 Assigned Aaa

Covered Bond

Alpha Bank Covered Bond PLC Series 1 and Series 2, Aaa Placed Under
Review for Possible Downgrade; previously on Dec 16, 2009 Confirmed at
Aaa.

Moody's will continue to monitor the transactions. The principal
methodologies used in rating and monitoring these transactions are:

- Moody's Methodology for Rating Greek RMBS (October 2009)

- Cash Flow Analysis in EMEA RMBS: Testing Structural Features with the
MARCO Model (Moody's Analyser of Residential Cash Flows) (January 2006)

- Moody's Approach to Rating Granular SME Transactions in Europe, Middle
East and Africa (June 2007)

- Refining the ABS SME Approach: Moody's Probability of Default
Assumptions in the Rating Analysis of Granular Small and Mid-Sized
Enterprise Portfolios in EMEA (March 2009)

- The Lognormal Method Applied to ABS Analysis, (July 2000)

- Revising Default/Loss Assumptions Over the Life of an ABS/RMBS
Transaction (December 2008)

- Moody's Approach To Rating Credit Card Receivables-Backed Securities,
(April 2007)

- Moody's Approach to Rating CDOs of SME in Europe, (February 2007)

- Moody's Approach to Rating Corporate Collateralised Synthetic
Obligations, (December 2008)

- Moody's Rating Approach to European Covered Bonds (June 2005)

- Timely Payment in Covered Bonds following Issuer Default (March 2008)

- Assessing Swaps as Hedges in the Covered Bond Market (2008)

All are available on www.moodys.com in the Rating Methodologies
sub-directory under the Research & Ratings tab. Other methodologies and
factors that may have been considered in the process of rating these
transactions can also be found in the Rating Methodologies sub-directory
on Moody's website. In addition, Moody's publishes a weekly summary of
structured finance credit, ratings and methodologies in "Structured
Finance Quick Check" at www.moodys.com/SFQuickCheck. For further
information, please visit our website www.moodys.com or contact Moody's
Client Service Desk (+44 20) 7772 5454.






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PRESS RELEASE: Moody's Reviews For Downgrade Aaa -2-
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As my previous on-the-spot supposition about EURUSD was wrong, it’s time to make more thorough analysis of current situation.

At weekly chart wave pattern is clear – it’s formed 5 waves, that may be a bullish impulse. If this suggestion is right, we’re in the stage of retracement by now. Let’s check this correction move in a detailed way on a daily chart.

The 3rd bearish impulse is seen on the daily graph. It’s more probable, that after forming a retracement to the current bearish wave EURUSD will make another minimum point, and finally the pattern of correction will become standard, that means consisting of 3 waves.

According to the Stochastic indicator pattern on the weekly chart, the correction (to the upside) may be significant.

Click on the link below to expand all the charts.

malcom,

how high do u think gold can go up sir. i think it mite go up to 1114 b4 a fall. based on my understandign of charts.

strange trading style and MM. Do you mind to explain a little bit about your style?

thanks

massive usd weakness on all pairs due

check 4 hour charts

any usd pair

trade safe

12:47 PM 2/19 EURO-DOLLAR: Traders flash up that a semi official name again seen showing demand interest. Rate trades around $1.3490. Provided by: Market News International


? do you guys ever pay attention to this stuff ?
what's a semi official ?

Long term bulls, are there any left? I thought they left the party 1000 pips ago.

1

Just wanna share..regarding my problem in not being able to execute orders..i tried testing to do pending order on my other trading account (with the same broker) and within few seconds the order we're executed.but when i tried to do pending order to my problem account, i waited few minutes and finally the "Off quotes" message appeared! And today even this message "No connection" appeared!! Am i being bugged..??

god knows...

you mean retest of previous intraday lows (from USD perspective)

hello all traders
eurusd daily chart ... can you call this RSI divergence ? good oportunity to buy ?

can they do that..? i've been withdrawing profits from my account almost every alternate days lately..is that the possible cause?

Are you still on the targets below from yesterday?

EURUSD SHORT TARGETS


1.35451
1.35089
1.34726
1.34222

you should call them, it might be software problem that they can help you fix...

change broker..simple

recommended... fxpro

PM me if need help...good luck

I had the same problem and I use FXPro.

Try the DEMO environment. It emulates the LIVE environment quite well (minus the psychological aspect of real money involved).