S&P downgrades $4.54 billion worth of CDO

03/16/2010 | Wall Street Journal, The

Standard & Poor's cut the credit rating of $4.54 billion in collateralized debt obligations, highlighting recent downgrades on subprime residential mortgage-backed securities and declining credit quality. During the past year, the credit rating agency has downgraded hundreds of billions of dollars in CDO and RMBS.

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