"DBRS throws in the towel and switches to global-style conduit liquidity"

Sep 17 07

"DBRS throws in the towel and switches to global-style conduit liquidity" writes CreditFlux, which covers derivatives and structured securities publication. "Toronto-based credit rating agency DBRS has announced that it has changed its criteria on liquidity facilities for asset-backed commercial paper conduits. New liquidity facilities will need to follow global standards.... Commercial paper investors now perceive DBRS-rated ABCP conduits as tainted," says the brief.

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