Etrade shows this news on the former Realty Finance CDO holdings. A Fitch upgrade is good news.
DJ Press Release: Fitch Upgrades RFC 2006-1
Feb 23, 2015 16:57:00 (ET)
The following is a press release from Fitch Ratings:
Fitch Ratings-New York-23 February 2015: Fitch Ratings has upgraded one class and affirmed nine classes of RFC CDO 2006-1, Ltd. /LLC (RFC 2006-1), reflecting Fitch's base case loss expectation of 61.7%. Fitch's performance expectation incorporates prospective views regarding commercial real estate market value and cash flow declines. A detailed list of rating actions follows at the end of this release.
The dividend has already been eliminated.
"NEW YORK, Dec. 24, 2014 /PRNewswire/ -- American Realty Capital Properties, Inc. ("ARCP" or the "Company") (NASDAQ: ARCP) today outlined its Board of Directors' business priorities for the Company moving forward and announced that it has concluded a status evaluation of the properties in ARCP's portfolio. Additionally, ARCP announced that it has obtained an additional lender waiver and extension for reporting third quarter 2014 and full year 2014 financial statements. While ARCP has agreed pursuant to the waiver and extension that it will not pay a dividend on its common stock until its financial statements have been delivered, following the delivery of its financial statements ARCP intends to review its dividend policy and pay a common stock dividend in line with its industry peers."