Synthetic CDO downgrades
This S&P article via Calculated Risk
Of the 92 ratings actions listed in the S&P article, it looks to me like
- 15 of them were AAA (3 downgraded to A),
- 27 of them were AA (4 downgraded to BBB),
- 30 of them were A
- 20 of them were BBB
There is very likely going to be forced selling for the 15 AAA securities and certainly with the 20 BBB securities breaching the barrier into junk status, i.e. high yield.
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