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Criteria: Recovery Assumptions Revised For Certain CDOs Backed Predominantly By U.S. RMBS Apr 08 Product Image

Criteria: Recovery Assumptions Revised For Certain CDOs Backed Predominantly By U.S. RMBS Apr 08

  • ID: 1820793
  • April 2008
  • Region: United States
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) April 28, 2008--Standard & Poor's Ratings Services today announced that it has revised its recovery-upon-default assumptions for collateralized debt obligation (CDO) securities backed by certain U.S. residential mortgage-backed securities (RMBS) collateral, including Alternative-A (Alt-A), subprime, home equity loan, and tax-lien RMBS issued in the U.S. during and after the fourth quarter of 2005 ("the affected U.S. RMBS"). This article addresses our assumptions related to the "credit quality of the securitized assets" principal discussed in a previous article, ?Criteria: Principles-Based Rating Methodology For Global Structured Finance Securities," which we published on May 29, 2007. These revisions to our recovery-upon-default assumptions for CDOs follow updates to our recovery assumptions for certain RMBS securities, which we completed earlier...

Action: General Comment
Action: S&P Event

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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