Industry News

Moody’s downgrades subprime investment securities

Higher-than-expected default rate cited
Published on Jun 18, 2007

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by CareyBot

Moody’s Investors Service has downgraded 131 investment securities backed by subprime, second-lien mortgage loans, saying loans of that type securitized in 2006 are “defaulting at a rate materially higher than original expectations.” The loans were “originated in an environment of ...

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