TEXT-S&P release on Titan Europe 2007-3 Ltd class E, F notes


(The following statement was released by the ratings agency) Sept 19 - Standard & Poor's Rating Services said today that it has lowered and kept on CreditWatch with negative implications its credit ratings on the class E and F notes issued by Titan Europe 2007-3 Ltd. At the same time, we have placed on CreditWatch negative the class D notes and kept on CreditWatch negative the class G notes. We have affirmed our ratings on all the other classes in the transaction (see list below). ...

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