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Friday, October 26, 2007

Moody's Cuts Ratings on CDOs

by Calculated Risk on 10/26/2007 11:57:00 AM

From Bloomberg: Moody's Cuts Ratings on CDOs Tied to Subprime Bonds (hat tip Robert)

Moody's ... cut the ratings of collateralized debt obligations tied to $33 billion of subprime mortgage securities, a decision that may force owners to mark down the value of their holdings.

Securities from at least 45 CDOs were either cut or put under review, according to news releases sent by the New York- based ratings company.