Lehman Case Will Affect CDO Ratings, Says Fitch 

The outcome of a pair of lawsuits playing out in US and UK courtrooms could have a ratings affect on structured finance transaction that have material derivative exposure to US-based counterparties, Fitch Ratings said. The two related cases involve bankrupt Lehman Brothers and a dispute over subordinate swap termination payments to the rated noteholders of synthetic collateralized debt obligations (CDO).