S&P downgrades 66 CDO tranches

02/14/2008 | Wall Street Journal, The

Standard & Poor's cut ratings on 66 CDO tranches. The tranches had a total value of $6.75 billion from 10 U.S. cash-flow and hybrid collateralized-debt-obligation transactions. Credit deterioration and recent negative rating actions on subprime residential mortgage-backed securities were factors in the downgrade.

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