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S&P Announcement: No Ratings Affected By Discrepancy Identified In CDO Evaluator Report Jul 12
Standard & Poors, July 2012
NEW YORK (Standard & Poor's) July 12, 2012--Standard & Poor's Ratings Services has become aware of a discrepancy in one of the nonrating-related reports produced by its CDO Evaluator credit model. The report can be produced by the current version of the model (version 6.0), as well as prior versions still in use (2.7, 4.1, and 5.1). The report output has not been used in connection with the ratings process, and no ratings have been affected by the discrepancy. The discrepancy affects the default correlation matrix report, which shows the implied default correlation between asset pairs by the CDO Evaluator model. In instances in which a portfolio has multiple assets from the same obligor, the report may not correctly show...
Action: General Comment
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.