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ALL » Topics » ABS CDOs

This excerpt taken from the ALL 10-Q filed Oct 31, 2007.
ABS CDOs are securities collateralized by a variety of other securities, including residential mortgage-backed securities that may be sub-prime. As of September 30, 2007, this portfolio had unrealized losses of $54 million, compared to unrealized losses of $7 million at June 30, 2007. During the third quarter of 2007, $25 million of a Aaa rated tranche of one ABS CDO was liquidated and we received full return of principal and interest, and one ABS

 

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CDO with a value of $1 million was downgraded from A to Ba.

 

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