CDOs Face Downgrades as Losses Prompt Fitch Ratings Overhaul
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The market for collateralized debt obligations faces more downgrades as losses on mortgage-backed securities prompt Fitch Ratings to overhaul the way it assesses the risk of CDOs based on company debt.
Fitch will begin next month to affirm or assign new ratings for about 500 CDOs, the New York-based company said in a statement today.