RMBS Ratings Cuts Contribute to $4.2 Bln In CDO Downgrades

26 Jan 2010

Credit deterioration and rating cuts on subprime residential mortgage-backed securities prompted Standard & Poor’s to downgrade $.2 billion in U.S. collateralized debt obligations of asset-backed securities deals.

Credit deterioration and rating cuts on subprime residential mortgage-backed securities prompted Standard & Poor’s to downgrade $.2 billion in U.S. collateralized debt obligations of asset-backed securities deals. S&P said the latest round of downgrades included rating reductions on 38 tranches from 13 CDOs of ABS deals, with all ...

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