S&P May Cut Grades on 7,077 Classes of U.S. Mortgage Bonds
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Standard & Poor’s may downgrade 7,077 classes of U.S. home-loan securities, after updating its loss projections for deals issued during 2005, 2006 and 2007.
The review covers bonds from 1,384 securitizations of prime, subprime and Alt-A mortgages, the New York-based ratings company said today in a statement.