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Bailout

: Calculated Risk

S&P Downgrades Prime Jumbo MBS

By Anonymous

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From MarketWatch: S&P downgrades prime jumbo mortgage securities
S&P said it lowered ratings on 102 classes from 33 U.S. prime jumbo residential mortgage-backed securities that were issued from 1998 to 2004. The rating agency also affirmed ratings on 669 classes from 32 of the downgraded deals, as well as 34 other deals.

"The downgrades reflect our opinion that projected credit support for the affected classes is insufficient to maintain the previous ratings, given our current projected losses," S&P said in a statement.

From 1998?


Full post as published by Calculated Risk on June 23, 2009 (boomark / email).

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