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S&P cuts, may cut up to $534 bln of subprime bonds

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Senior Manager
Senior Manager
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Joined: 30 Jul 2007
Posts: 385

Kudos [?]: 59 [0], given: 5

Location: Europe
Schools: St. Gallen '09
S&P cuts, may cut up to $534 bln of subprime bonds [#permalink]

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New post 30 Jan 2008, 14:08
http://www.reuters.com/article/bondsNew ... 3420080130

NEW YORK, Jan 30 (Reuters) - Standard & Poor's on Wednesday said it cut or may cut its ratings on $270 billion worth of U.S. mortgage-backed securities while putting $264 billion of collateralized debt obligations on watch for a possible downgrade.

The ratings action affects 6,389 classes of U.S. residential mortgage-backed securities backed by first-lien subprime loans and 1,953 ratings from 572 global CDOs backed by asset-backed securities and other CDOs.


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Gold is the ultimate protection in these situations. It's getting really really ugly out there.

Kudos [?]: 59 [0], given: 5

S&P cuts, may cut up to $534 bln of subprime bonds   [#permalink] 30 Jan 2008, 14:08
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S&P cuts, may cut up to $534 bln of subprime bonds

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