Thursday, November 6, 2008

Standard & Poor's RMBS Downgrades


Check the report for some amazing downgrades.

Back in October they warned the market that hundreds of billions of downgrades were coming.

Some issues went from AAA to B, 15 notch drop.

Some issues went from AA+ to CCC, 16 notch drop.

Needless to say, these bonds dropped from investment grade to junk.

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