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Investors losing confidence in CDO ratings, comments Financial Times
Thursday, June 14, 2007
Writing in today's Financial Times, Gillian Tett comments that investors may be becoming more cynical about CDO ratings. She says that until recently it was generally presumed that debt with similar ratings should trade at roughly the same price. But lately, she points out, spreads on BBB CDO tranches have ranged from 140bp to 1000bp. She quotes Pressprich's Arturo Cifuentes as saying "The market does not believe the ratings."
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Funds
Structured
Issuers
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 |
