Merrill Lynch has announced a deal with Lone Star, a private equity fund, whereby Merrill will sell Lone Star $30.6 billion worth of CDOs for the bargain basement price of $6.7 billion. This will bring Merrill's writedowns over the past 13 months to $46 billion. One reason for the writedown is shown by the downgrade to junk status of 27 out of 30 CDOs originally rated AAA.
Maybe the writedowns have stopped for Merrill?
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