Latest News:
news, comment, analysis and data on the global business of credit trading and investing
Structured
Moody's cuts ABS CDO ratings
Tuesday, January 6, 2009
Moody's announced yesterday that it was downgrading 172 tranches of CDOs of ABS following the recent change in its structured finance CDO rating methodology. The rating agency changed its inputs for asset correlation, default probability and recovery rates. Yesterday's downgrades affect 37 deals and are by as much as six notches.
<< END >>
Related stories
- CLO traders brace themselves for spike in secondary market supply... 18 hours ago
- Private equity firm eyes opportunites to sell out of its CLOs 19 hours ago
- Moody’s warns of CLO changes as ratings face six-notch cut 3 years ago
- Fitch announces new corporate CDO criteria 3 years ago
- S&P plans to overhaul cashflow CDO ratings 6 years ago
CFlux secondary
CLO index levels:
| Index | 6 Feb |
|
| CFlux USD AAA | ↑ | 94.9 |
| CFlux USD AA | ↓ | 81.3 |
| CFlux USD A | ↓ | 75.0 |
| CFlux USD BBB | ↑ | 74.8 |
| CFlux USD BB | ↑ |
72.1 |
| CFlux USD EQ | ↑ | 67.6 |
