Fitch Ratings

Fitch Downgrades $37.2 Billion in Global CDOs 

Fitch Ratings today took out the big red pen to a whopping $37.2 billion in collateralized debt obligations, hitting 84 transactions with often severe downgrades. Hopefully you aren’t entirely surprised, as I’d warned about the pending downgrades on November 7 — but it will nonetheless be interesting to see what happens next.