S&P error junks 30 bonds — so far

S&P
By Ryan Bolger
30 Mar 2015

Standard & Poor’s has downgraded most of the securities it had reconsidered following a ratings error which impacted the agency’s default assumptions for 338 legacy, non-agency RMBS ratings.

The agency announced on March 20 that it had completed reviews for 173 of the affected ratings and that 159 of those bonds had been downgraded so far. 

Of the bonds downgraded so far, 30 have been downgraded below investment grade, analysts at Barclays said in a report last ...

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