(Bloomberg) -- Standard & Poor's lowered credit
ratings on securities from 75 collateralized debt obligations
made up of derivatives linked to subprime mortgage bonds, as it
steps up the pace of downgrades sparked by rising home-loan
delinquencies.
The cuts on so-called synthetic CDOs follows S&P's reduction
of ratings on $6.4 billion of subprime mortgage bonds on July 12
and the lowering today of second-mortgage securities with $3.8
billion in initial balances, including some AAA bonds. The
downgrades were announced the downgrades today in separate
statements.
Read more at Bloomberg Bonds News
ratings on securities from 75 collateralized debt obligations
made up of derivatives linked to subprime mortgage bonds, as it
steps up the pace of downgrades sparked by rising home-loan
delinquencies.
The cuts on so-called synthetic CDOs follows S&P's reduction
of ratings on $6.4 billion of subprime mortgage bonds on July 12
and the lowering today of second-mortgage securities with $3.8
billion in initial balances, including some AAA bonds. The
downgrades were announced the downgrades today in separate
statements.
Read more at Bloomberg Bonds News
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