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Managers Curtail Delphi Losses

04 Nov 2005

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.

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.

04 Nov 2005