AAA Rated Subprime MBS Rarely Downgraded, But Account for Vast Majority of Subprime MBS Ratings
September 7, 2007
Despite widespread belief that subprime MBS are performing poorly, the overwhelming majority of these deals are rated AAA, and the rating services have rarely downgraded investment-grade subprime MBS.Standard & Poor’s confirmed this week that it has never downgraded...