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S&P Puts $552.8 billion Alt-A MBS on Downgrade Watch
Calculated Risk —
From the WSJ: S&P; Puts Mortgage-Backed Securities on Downgrade Watch (ht Bob_in_MA) Standard & Poor's Ratings Service on Monday placed its ratings on $552.8 billion worth of U.S. first-lien Alt-A residential mortgage-backed securities issued between 2005 and 2007 on watch for downgrade, saying it sees an increase in losses from the transactions issued in those years. ... S&P; said it believes continued foreclosures, distressed sales, an increase in carrying costs for properties in inventory and more declines in home sales will further depress prices and lead ...
The Leper list
FT Alphaville —
... Motor Company, General Motors - and a couple of airlines - UAL Corporation and US Airways. Casino groups also feature prominently - Golden Nugget, Harrah’s Entertainment, MGM Mirage are all on the “Bottom Rung”. But there are also some less obvious names which make it on to the ladder. These include, Arby’s, Barney’s New York, Claire’s Stores, Krispy Creme Doughnut, Palm, and Unisys. And inevitably, companies are already starting to complain. Here’s a spokesman from Eastman Kodak talking to the Wall Street Journal on Monday night.“Any speculation, however informed, ...
New Moody’s Company “Dead Pool” May Wreck A Lot Of Companies
24/7 Wall St. —
... Moody’s has come out with a list of 283 companies that are at great risk of defaulting on their debt. The Wall Street Journal got a copy of the list so each of the firms can face customers, suppliers, and creditors who will have fresh questions about whether these corporations will fail. ...
Moody's List of Riskiest Companies Forgets to Include Moody's
Minyanville —
... ) is issuing a list dubbed The Bottom Rung, cataloguing the riskiest 15% of all companies it tracks. The effort, which the company claims is an attempt to get ahead of the looming mountain of corporate defaults, has already ruffled a few feathers. According to the Wall Street Journal , Eastman Kodak ( ...
Tuesday links: the bottom rung
Abnormal Returns —
... What companies are showing up on Moody’s “The Bottom Rung” list of troubled credits? (WSJ.com also ...
Speculation, However Informed....
Dealbreaker —
... Moody's is pushing into a gray zone, singling out some firms that say they're in decent fiscal health."
As opposed to firms insisting they aren't in decent fiscal health? What does that list look like?
Calling a company the walking dead is intensely unpopular right now and the bright-red, freshly burned "Speculator" brand on the forehead is the scarlet letter of the day. Moody's, indeed any ratings agency, might be between a rock and a hard place here.
Moody's Aims to Be Ahead on Defaults [The Wall Street Journal]
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Moody’s Lists 283 Companies Risking Default: GM, Chrysler, Kodak, Unisys
Daily Markets —
... Heavily criticized for its ineffectiveness in missing the subprime debacle and the commercial mortgage-backed securities mess, the world’s most utilized firm for credit ratings, research and risk analysis - Moody’s Investors Service, published on Tuesday a list called the ‘Bottom Rung’, detailing the companies that Moody’s says are most likely to default on their debts. Wall Street Journal : With 283 companies, the list holds nearly every sector of the economy. The dominant industries on this at-risk list include much of the U.S. auto industry, the casino sector, and many ...
