Moody’s Downgrades Billions in RMBS Over Four-day Period
The downgrades come at a time when the agency expects more losses associated with subprime loans underlying the securities as home prices plummet and unemployment remains.
Palm Coast, FL – March 14, 2011
Ratings agency Moody’s Investors Service (MCO: 31.85 -1.58%) downgraded several batches of residential mortgage-backed securities over the weekend following $2 billion worth of downgrades recorded in the same segment on Friday.
The downgrades come at a time when the agency expects more losses associated with subprime loans underlying the securities as home prices plummet and unemployment remains, according to Moody’s reports.
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https://www.gotoby.com/news/moody_downgrades_billions_in_rmbs.htm
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