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New Year's Resolution For S&P To Consider: Properly Rate A Security For The First Time

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Just one, not all. Start small.

Standard & Poor’s said it may downgrade 1,196 securities tied to U.S. residential mortgages after it “incorrectly analyzed” the debt in light of the securitizations’ actual structures. The bonds were created mostly this year in 129 transactions called re-remics, which are formed by repackaging existing home- loan securities, New York-based S&P said today in a statement.

S&P Says It ‘Incorrectly Analyzed’ Re-Remic Mortgage Bonds [BW]