S&P Downgrades Another $6.84 Bln Of CDOs

24 Feb 2010

Standard & Poor’s has lowered the ratings on another $6.84 billion of U.S. collateralized debt obligations of asset-backed securities transactions.

Standard & Poor’s has lowered the ratings on another $6.84 billion of U.S. collateralized debt obligations of asset-backed securities transactions. In the latest action, S&P downgraded 39 tranches from 13 CDOS of ABS deals; none were from mezzanine structured-finance CDOs. The credit rating agency blamed credit deterioration and ...

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