Delphi default prompts CDO shake-up

New angles

pg16-andrew-south-gif

The filing for Chapter 11 bankruptcy protection by Delphi, the largest US auto-parts manufacturer, has sparked a flurry of downgrades to US and European collateralised debt obligations (CDOs).

All three of the major rating agencies have warned about the negative impact on CDO ratings following Delphi's bankruptcy filing on October 8. Standard & Poor's (S&P), for instance, has taken action on 166 synthetic CDOs in both Europe and North America. The agency lowered the ratings on 127 synthetic CDO

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here