Fitch Downgrades $29.8 Billions of subprime CDOs

From Reuters: Derivative Fitch cuts $29.8 bln of subprime CDOs

Derivative Fitch cut $29.8 billion worth of structured finance collateralized debt obligations and affirmed $3.8 billion of the securities ...

On a related note, from The Big Picture: The Abysmal Track Records of Moody's, Fitch and S&P