S&P puts CDOs on negative watch after updating criteria

09/21/2009 | EuroWeek

Standard & Poor's announced that it updated its criteria for collateralized debt obligations, ending uncertainty in the structured-credit market, after a similar move by Moody's Investors Service in February. The update prompted S&P to put 4,790 CDO tranches on a negative credit watch. The credit rating agency expects mass downgrades.

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