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Market bewildered by timing of Fitch action against Gordian Knot's SIV: Private negotiation is suddenly played out in the public arena: Is it all a misunderstanding?

Structured investment vehicle investors, as well as Standard & Poor's and Moody's Investors Service, have been increasingly perplexed over the timing of Fitch Rating's recent decision to place the long- and short-term ratings of Gordian Knot Ltd.'s SIV, Sigma Finance Corp., on Rating Watch Negative.

In what some market...

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