Democratic Underground - Moody's says CDO ratings likely to change on Delphi

Reply #85: Moody's says CDO ratings likely to change on Delphi [View All]

UpInArms

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Thu Oct-13-05 12:13 PM
Response to Reply #81

85. Moody's says CDO ratings likely to change on Delphi

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-10-13T170517Z_01_WNA0124_RTRIDST_0_AUTOS-MOODYS-CDOS-URGENT.XML

NEW YORK, Oct 13 (Reuters) - Moody's Investors Service on Thursday said that it expects to change its ratings on some collateralized debt obligations, following Delphi Corp.'s (DPHIQ.PK: Quote, Profile, Research) bankruptcy filing on Saturday.

"It is too soon to determine which specific deals would be affected or the extent of any ratings changes," Moody's said. "The impact will depend upon the actual exposures to Delphi and the ultimate recovery values."

Ratings changes are more likely to affect deals backed by credit-default swaps, than those including bonds or loans, it said.

Moody's has rated 324 CDOs with exposure to Delphi, 177 of which are in the U.S. and 127 in Europe, the Middle East and Africa.

324!

Ruh-roh :hide:

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Reply #85: Moody's says CDO ratings likely to change on Delphi [View All]