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[CPDO rating error] Moody’s Confirms External Review of European CPDO Rating Process (Statement)

Posted by Stacy-Marie Ishmael on May 21 21:18.

Via BusinessWire.

Moody’s recognizes the seriousness of questions raised by today’s Financial Times article concerning the analytical models and methodologies used in our European constant-proportion debt obligation (CPDO) ratings process. The integrity of our ratings and rating methodologies is extremely important; as such, when the questions were recently raised to us, we retained the law firm of Sullivan & Cromwell and initiated a thorough external review of our European CPDO ratings process. Upon completion of the review, we will promptly take any appropriate actions. Moody’s rated 44 European CPDO tranches, representing approximately USD 4 billion in rated securities.

Article Series - CPDO rating error

  1. FT Alphaville exclusive: Moody’s error gave top ratings to debt products
  2. Moody's statement to the FT
  3. A CPDO rating explainer
  4. CPDOs' triple A failure
  5. Moody's Confirms External Review of European CPDO Rating Process (Statement)
  6. Buffett doesn't blink
  7. US senator Schumer's letter to Cox
  8. Moody's linkfest
  9. Moody's on ratings watch negative
  10. Moody's CEO makes statement
  11. Moody's hopes to put CPDO errors behind it
  12. Cox responds to Schumer
  13. S&P admits modelling flaw
  14. Moody's ousts structured finance head, admits breaches to code of conduct
  15. Moody's receives an unwelcome (Wells) notice
  16. Moody's misses the Monday melt up

This entry was posted by Stacy-Marie Ishmael on Wednesday, May 21st, 2008 at 21:18 and is filed under Capital markets. Tagged with . Edit this entry.

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