Collateralized Debt Obligations In Default

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Collateralized Debt Obligations In Default

Jody Shenn of Bloomberg reports that State Street Corp., BlackRock Inc., Societe Generale and Deutsche Bank AG units are among 28 managers of mortgage-linked collateralized debt obligations deemed at risk of being unable to fully pay off their most-senior classes.About $64 billion of CDOs, which repackage pools of assets into new securities with varying risks, have experienced so-called events of default since mid-October after a slump in the credit quality of their holdings, according to data sent to clients yesterday by Charlotte, North Carolina-based Wachovia Corp. analyst Justin Pauley. Harding Advisory LLC and Tricadia CDO Management LLC each manage five of such failing deals, the most.

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