Bonds

Moody’s: $10.3 Billion in US CDO Downgrades During October 

Moody’s Investors Service said today that it downgraded 1.9 percent of the total outstanding US CDO market rated by the agency, for a total of $10.3 billion across 273 tranches of 131 deals. As of October 31, a total of 734 tranches from 227 SF CDO deals or approximately US$47.5 billion (8.8% of Moody’s rated CDOs by dollar volume) remained on review for downgrade. According to a new report issued by the agency, the October actions bring CDO downgrades for calendar year 2007 to roughly US$13 billion in 338 SF CDO tranches from 173 deals.