Structured Credit downgrades

| 18 June 2008 07:00

This via the FT blog FT Alphaville:

The latest downgrades from S&P – testament to the fact that the structured finance unwind isn’t yet unwound:

330 U.S. CDOs put on credit watch negative
80 second lien RMBS cut to ‘D’
65 Alt-A RMBS ratings cut
28 European synthetic CDOs on credit watch negative

It’s also worth noting that more than $200bn of CDOs have now breached default triggers: more than double the highest estimates from earlier this year.

avatar About Edward Harrison

Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages, a skill he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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