Friday, March 30, 2012

CSMC 2012-CIM1

Bloomberg had a TOP story on CMBS RMBS today (that's always so exciting!) talking about how Fitch thinks S&P is grossly inaccurate in giving Credit Suisse AAA ratings on bonds with just 8 percent subordination, noting that Fitch would never dream of assigning a AAA rating to any bond with less than a 9.75% subordination rate.

I don't know if those are standards worth arguing over or not, but at least they disagree on something.

Update: I incorrectly noted this was a CMBS deal on Friday, but Anonymous corrected me and it looks like it's a resi deal.


Anonymous said...

you know that is an RMBS deal..

crabsofsteel said...

and besides, why does anyone care what Fitch thinks?

Concrete Jungle said...

Ha - no, I didn't. I didn't even look it up because I was trying to sneak out early... I'll correct the post, thanks. ;-)