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Fitch Publishes CLO Indenture Abstract & New Issue Report for Anchorage Capital CLO 2013-1, Ltd./LLC

NEW YORK--()--Link to Fitch Ratings' Report: Anchorage Capital CLO 2013-1, Limited/LLC: http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=712998

Fitch Ratings has published its CLO Indenture Abstract and a new issue report for Anchorage Capital CLO 2013-1 Ltd./LLC.

Fitch's CLO Indenture Abstract describes important features from a CLO indenture and provides commentary on how these features work and comparisons with other recently issued CLOs. The report includes Fitch's commentary related to:

--Collateral quality tests;

--Concentration limitations;

--Coverage tests;

--Priority of payments;

--Conditions to reinvestment;

--Events of default;

--Manager replacement provisions;

--Call provisions;

--Indenture amendments; and

--Reporting requirements.

The new issue report is available at 'www.fitchratings.com' or by clicking on the above link. The CLO Indenture Abstract is available by clicking on the below link.

Additional information is available at 'www.fitchratings.com'.

The sources of information used to assess these ratings were the transaction documents and other materials provided by the arranger, J.P. Morgan Securities, LLC, and the public domain.

Applicable Criteria & Related Research:

--'Global Structured Finance Rating Criteria' (May 24, 2013);

--'Global Rating Criteria for Corporate CDOs' (Aug. 8, 2012);

--'Global Criteria for Cash Flow Analysis in CDOs' (Sept. 13, 2012);

--'Criteria for Interest Rate Stresses in Structured Finance Transactions' (Jan. 25, 2013);

--'Counterparty Criteria for Structured Finance Transactions' (May 13, 2013).

Applicable Criteria and Related Research:

Global Structured Finance Rating Criteria


Global Rating Criteria for Corporate CDOs


Global Criteria for Cash Flow Analysis in CDOs


Criteria for Interest Rate Stresses in Structured Finance Transactions


Counterparty Criteria for Structured Finance and Covered Bonds


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