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Article: Fitch Ratings Publishes CDO Transition Study & First Half 2002 Review.
- Article from:
- Business Wire
- Article date:
- August 23, 2002
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Business Editors
NEW YORK--(BUSINESS WIRE)--Aug. 23, 2002
Fitch Ratings today released its first historical transition study of Fitch-rated collateralized debt obligations (CDOs) from 1995-2001. The study is an extension of Fitch's 'Structured Finance Rating Transition Study,' dated May 9, 2002, which covered asset-backed (ABS), including CDOs, residential mortgage-backed (RMBS), and commercial mortgage-backed securities (CMBS).
From the 1995-2000 period, CDO ratings were very stable, with very few incidences of downgrades. However, meaningful downgrades began to hit the sector last year as a result of a severe deterioration in credit quality ...