Moody’s: $10.3 Billion in US CDO Downgrades During October

Moody’s expresses concern about N.Y. Times’ debt. has slowed in October even after a strong September fueled by readers’ hunger for news about a historic presidential. Including $10.3.

The concern halted sales of such bonds in October and early November after issuance totaled $10.7 billion. revision of US employment to be issued tomorrow, February 5, will show that the US labor.

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11-23 October Moody’s downgrades some 2,500 subprime bonds issued in 2006, followed by a series of S&P subprime downgrades in the following days. S&P also puts 590 CDOs on ratings watch negative and downgrades 145 tranches of CDOs worth $3.7 billion; Moody’s downgrades 117 CDO tranches later in the same week, and Fitch places some

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Issuance of CDOs has increased rapidly both globally and in Australia over the past few years. Globally, US$160 billion of CDO tranches were issued in 2004, up from an annual average of less than US$100 billion between 1998 and 2002 . This strong growth was driven by increased issuance in the United States and Europe.

Moody’s downgraded a total of 1,331 tranches of U.S. dollar-denominated resecuritizations in 2007. These accounted for 92 percent of the 1,448 downgrade actions for all CDOs during the year. Within the dollar-denominated resecuritization category, downgrades were heavily concentrated in the 2006 and 2007 vintages.

Moody’s Investors Service said today that it downgraded 1.9 percent of the total outstanding US CDO market rated by the agency, for a total of $10.3 billion across 273 tranches of 131 deals. As of.

Moody’s, the only one of the three that stands alone as a publicly traded company, has averaged pretax profit margins of 52 percent over the past five years. It reported revenue of $1.76 billion –.

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At the center of the investigation is a $1.6 billion CDO from 2007, which has been cited as an example of why the financial crisis ran so deep.. that received downgrades from Moody’s this week.

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