Relevant:
- Moody’s Gets Busy Downgrading Alt-A RMBS Deals; 198 Classes Affected
- Fitch Downgrades $8.1 Billion from 10 Ameriquest Subprime RMBS Deals
- Moody's Cuts Ratings on CDOs Tied to Subprime Bonds
- Rated AAA, but riskier than junk- think CPDOs
- Despite Lifting Of Export Ban, Moody's "Bombshell" Sparks Panic In Energy Credit Markets
2008-04-24 — housingwire.com
'Moody’s Investors Service issued more Alt-A downgrades on Thursday morning, this time taking a heavy hand to 32 different Aaa-rated tranches from 10 different Alt-A deals. Many of the downgrades even pushed former Aaa’s into non-investment grade categories — a stunning descent for top-rated Alt-A mortgage bonds that underscores two key points...
...
We can’t help but wonder what the Federal Reserve is now holding on its books, given the amount of Aaa-rated securities that have been cut in the past three days alone. One thing is ominously certain for the financial markets, however — the write-downs are far from over.
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