Democratic Underground - 20/20 Hindsight: Moody's says revises 2006 subprime loss expectation

Reply #42: 20/20 Hindsight: Moody's says revises 2006 subprime loss expectation [View All]

UpInArms

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Thu Jan-31-08 09:45 AM
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42. 20/20 Hindsight: Moody's says revises 2006 subprime loss expectation

http://www.reuters.com/article/bondsNews/idUSL3191687720080131

LONDON, Jan 31 (Reuters) - Credit rating agency Moody's Investors Service said on Thursday it has revised its assumptions for losses on loans backing 2006 vintage subprime residential mortgage securities to 14 to 18 percent.

The agency did not say what the previous assumption was. No one at the agency could immediately be reached for comment.

"We are updating our views on the possible loan losses on the 2006 subprime vintage in response to current performance that is proving to be much worse than in prior years and is demonstrating a progressive deterioration," said Moody's Chief Credit Officer Nicolas Weill.

...a bit more...

:wtf:

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Reply #42: 20/20 Hindsight: Moody's says revises 2006 subprime loss expectation [View All]