Rating Agencies Give Subprime Market Big Thumbs Down

--Cathy Cunningham

Standard & Poor’s and Moody’s Investors Service have both given the subprime residential mortgage-backed securities market a big thumbs down. Standard & Poor’s may downgrade $12 billion of U.S. subprime residential mortgage-backed securities. analysts, while Moody’s Investors Service has downgraded 399 RMBS and placed a further 32 ...