Cairn Capital’s ABS CDO Gets Ratings Slashed

Cairn Capital’s first cash flow managed collateralized debt obligation of asset-backed securities has had its ratings slashed today because of severe credit decline in the underlying portfolio, according to analysts with Moody's Investors Service.

  • 06 Aug 2008
--Cristina Pittelli

Cairn Capital’s first cash flow managed collateralized debt obligation of asset-backed securities has had its ratings slashed today because of severe credit decline in the underlying portfolio, according to analysts with Moody's Investors Service. The fund contained 48% sub-prime residential mortgage-backed securities.

Moody’s chopped the ratings on ...

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