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Saturday Sep 6 2008
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[CPDO rating error] Moody’s Confirms External Review of European CPDO Rating Process (Statement)
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
- FT Alphaville exclusive: Moody’s error gave top ratings to debt products
- Moody's statement to the FT
- A CPDO rating explainer
- CPDOs' triple A failure
- Buffett doesn't blink
- US senator Schumer's letter to Cox
- Moody's Confirms External Review of European CPDO Rating Process (Statement)
- Moody's on ratings watch negative
- Moody's CEO makes statement
- Moody's hopes to put CPDO errors behind it
- Cox responds to Schumer
- S&P admits modelling flaw
- Moody's ousts structured finance head, admits breaches to code of conduct
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