For CDOs, pay-as-you-go standards still have way to go

November 2005
Asset Securitization Report;11/21/2005, Vol. 5 Issue 44, p13
Reports on the popularity of synthetic collateralized debt obligations (CDO) as financial instruments in asset-backed securities (ABS) transactions in the U.S. Capability of structured finance credit default swaps to reference any dollar amount of portfolios; Tendency of CDO managers to modify the pay-as-you-go (PAUG) scheme to avoid mandatory cash settlement; Revelation of rating firm Fitch Ratings Inc. regarding the utilization of PAUG in ABS transactions.


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