Harder times ahead for European structured products

European structured products will come under ratings pressure in 2007, but there will be only a limited number of downgrades, according to rating agency Standard & Poor's.

Residential mortgage-backed securities have benefited from the rise in house prices over the past few years, the agency says. But the slowing housing market means RMBSs are less likely to be upgraded, and some products could "run into some performance difficulty", especially if delinquency levels rise, says S&P. But widespread

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