CDPCs struggle on Lehman, WaMu exposure
Primus CDPC has been put on CreditWatch with negative implications by Standard & Poor’s. It has credit derivative exposure to Lehman Brothers, Fannie Mae, Freddie Mac and Washington Mutual. S&P said it might lower the ratings to double-A depending on the levels of recovery, threatening its business model. Read Euroweek this week to find out if CDPCs can survive the market turmoil.
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