Standard & Poor’s has issued a statement about an error discovered in its models used to rate five CPDOs. The rating agency says: “This error did not result in a ratings change and was caught and remedied by our ratings process.” It says it found the error after responding to an SEC inquiry regarding its CPDO, CDO and RMBS ratings and models.

Newsletter

August 2008
News: TD battles for UK survival after blunder; JP Morgan pulls plug on deal for Prytania CDO model; XLCA dissolves CDO team
People: UBS strengthens European flow business; Deutsche Bank shuffles trading
Analysis: Bond funds go hunting for value; The French Revolution
Profiles: Novatar
Comment: Fishknife; Wolseley

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