Mz downgrade is bigger than yours


	Mz downgrade is bigger than yours

jcfalkenberg

4-8-2008 6:05 PM

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tags:

s&p, cdo, ratings

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/7427ad7d-d1fe-45e6-b464-202be8307d49/D63D7EB4-02DD-4A52-852C-7D87021E6304/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://blogs.wsj.com/marketbeat/2008/04/08/four-at-four-whats-done-is-done/?mod=WSJBlog" href="http://blogs.wsj.com/marketbeat/2008/04/08/four-at-four-whats-done-is-done/?mod=WSJBlog" style="font-size: 11px;">blogs.wsj.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://blogs.wsj.com/marketbeat/2008/04/08/four-at-four-whats-done-is-done/?mod=WSJBlog"><li style="margin-left:16px;padding-left: 0px;">This may come as a major surprise, but credit-ratings agency Standard & Poor’s <STRONG>cut its ratings Tuesday</STRONG> on $723.4 million of U.S. collateralized debt obligations because of more credit deterioration. By this time, it may be easier if the various ratings agencies issued <STRONG>a list of CDOs that have <EM>not </EM>yet been downgraded</STRONG>, if only to escape the daily mind-numbing reports of yet another CDO ratings change, which no longer illuminates, shocks or impresses any investor. After all, <STRONG>by now S&P has lowered ratings on more than 3,100 tranches from 729 CDO transactions</STRONG>, and after a while it becomes impossible to distinguish between what is good and bad. But in the greater analysis, the fact that releases such as this — or Fitch’s downgrade of MBIA’s triple-A guaranty rating — barely raise an eyebrow in the market <STRONG>suggests a prevailing serenity that the financial crisis has finally been contained</STRONG>, wise or not. </LI></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D63D7EB4-02DD-4A52-852C-7D87021E6304/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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