Agencies release CPDO methodologies

All three major rating agencies have issued their methodologies for constant proportion debt obligations (CPDOs), outlining the risks faced by investors in this nascent asset class. The move follows indications from banks that the market for these securities is about to take off.

In its analysis of the market, Moody's highlighted risks associated with spreads, defaults, interest rates, liquidity and the early termination of CPDO contracts.

Standard & Poor's looked at performance drivers in CPDOs

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