{"id":198384,"date":"2007-11-13T00:10:00","date_gmt":"2007-11-13T05:10:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/13\/nearly-15-billion-goes-from-aaa-to-junk\/"},"modified":"2007-11-13T00:10:00","modified_gmt":"2007-11-13T05:10:00","slug":"nearly-15-billion-goes-from-aaa-to-junk","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2007\/11\/13\/nearly-15-billion-goes-from-aaa-to-junk\/","title":{"rendered":"Nearly $15 Billion Goes from AAA to Junk"},"content":{"rendered":"<p><a href=\"http:\/\/calculatedrisk.blogspot.com\/2007\/11\/fitch-downgrades-372-billion-of-cdos.html\">Calculated Risk: Fitch Downgrades $37.2 Billion of CDOs<\/a><\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Fitch Ratings downgraded Monday the credit ratings of $37.2 billion of global collateralized debt obligations, with more than $14 billion worth of transactions falling from the highest-rated AAA perch to speculative-grade, or junk, status.<br \/>&#8230;<br \/>The rating agency said more than 60 CDO transactions are still on watch for potential downgrade, with a resolution due on or before Nov. 21.<\/p>\n<p>On Monday, nearly $20 billion worth of transactions was cut from investment-grade to junk, said Kevin Kendra, managing director at Derivative Fitch.<\/p><\/blockquote>\n<p>The problem is that there are many assets that simply have no buyers, at least not at a non-bankruptcy inducing price.  As such, they are illiquid, and valuless.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Calculated Risk: Fitch Downgrades $37.2 Billion of CDOs Fitch Ratings downgraded Monday the credit ratings of $37.2 billion of global collateralized debt obligations, with more than $14 billion worth of transactions falling from the highest-rated AAA perch to speculative-grade, or junk, status.&#8230;The rating agency said more than 60 CDO transactions are still on watch for &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1261,973],"tags":[],"class_list":["post-198384","post","type-post","status-publish","format-standard","hentry","category-bubble","category-economy"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198384"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=198384"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/198384\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=198384"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=198384"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=198384"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}