Wednesday, April 23, 2008

Moody's cut some more

This comes from HousingWire:
On Wednesday the agency downgraded another 510 classes from 64 additional subprime deals, according to calculations by Housing Wire, and then got busy cutting up Alt-A securities — to the tune of 388 classes downgraded from 75 different Alt-A deals.

Moody’s also warned of pending downgrades to a stunning 254 different Aaa-rated Alt-A tranches, worth well into the hundreds of billions of dollars.

The list of Alt-A downgrades and Housing Wire’s count of at-risk Aaa tranches are here.

source: Moody’s Downgrades 388 Alt-A RMBS Classes; Warns on 254 Aaa-rated Tranches

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