“These reports will open a dialogue with investors during the period when they need information the most,” says Warren Kornfeld, a managing director in Moody’s structured finance group.
But why now? Moody’s has never published pre-sales reports in this market before, and some may see their decision as an indicator of the worrying deterioration of credit quality in the US sub-prime RMBS market.
Moody’s maintain that the timing of the announcement is coincidental, as the lengthy process required to put together these publications began more than a year and a half ago.
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