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Friday, February 29, 2008

S&P: 1,887 Classes of Alt-A MBS may be Downgraded

by Calculated Risk on 2/29/2008 01:58:00 PM

From MarketWatch: S&P may downgrade 1,887 classes of Alt-A mortgage securities (hat tip crispy&cole)

Standard & Poor's said on Friday that it may downgrade 1,887 classes of mortgage securities backed by so-called Alt-A home loans. ... There's been a persistent increase in delinquencies on the loans underlying these securities, S&P said.
From Reuters: S&P may cut $14 bln of subprime debt, eyes CDOs (hat tip Barley)
Standard & Poor's on Friday said it is reviewing $14 billion of subprime-related debt for a ratings cut and may act on related collateralized debt obligations within "days," the rating company said.

S&P took the action due to rising delinquencies on higher quality mortgage loans known as "Alt-A loans," ...