(Bloomberg) -- Standard & Poor's said it may cut
credit ratings on $12 billion in bonds backed by subprime mortgages
because losses will rise beyond its previous expectations.
Ratings of 612 classes of residential mortgage-backed
securities were placed on CreditWatch with negative implications,
New York-based S&P said today in an e-mailed statement. The bonds
represent 2.1 percent of the $565.3 billion of similar bonds
rated by S&P during 2006.
Read more at Bloomberg Bonds News
credit ratings on $12 billion in bonds backed by subprime mortgages
because losses will rise beyond its previous expectations.
Ratings of 612 classes of residential mortgage-backed
securities were placed on CreditWatch with negative implications,
New York-based S&P said today in an e-mailed statement. The bonds
represent 2.1 percent of the $565.3 billion of similar bonds
rated by S&P during 2006.
Read more at Bloomberg Bonds News
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