The damage felt by CDO investors exposed to U.S. auto parts marker Delphi Corp. was lessened by managers who traded out the name from portfolios before it hit rock-bottom. "It had been taken out of many transactions and therefore had a limited impact," said Katrien Van Acoleyen, analyst at Standard & Poor's in London. Of the 700 CDO tranches with exposure to Delphi only 177 were downgraded by S&P.
Managers Curtail Delphi Losses
