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ResCap’s Credit Rating Downgraded to Junk; IndyMac on Watch

Aug 16, 2007By

Earlier I’d noted that Countrywide saw it’s long-term issuer default rating downgraded by Fitch, but the rating agency was by no means done: it also slashed Cerberus mortgage unit ResCap to junk status and warned that it may do the same with IndyMac Bank.