Europe's securitization markets will gradually gain steam in 2010, according to a report from Moody's Investors Services, but downgrades to existing deals are likely because of the weak economy and efforts to curtail lending. The Moody's research comes as market participants face the end of government support for securitization markets. "Moody's expects to see a gradual reopening of the primary market in more stable asset classes," said Mehdi Ababou, a senior analyst at Moody's.

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