Moody’s Investors Service downgraded $4bn of securities backed by residential loans issued by Securitized Asset Backed Receivables, as the performance of the underlying subprime mortgages continues to worsen. Moody’s has downgraded hundreds of billions of dollars worth of residential mortgage-backed securities (RMBS) in recent months as credit raters have steadily cut ratings on the securities.
Moody’s downgrades $4bn of RMBS
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