Structured Credit downgrades

By Edward Harrison On Jun 18, 2008

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.

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills 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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