Toxic assets in Europe suffered defaults far less severe than in the U.S., according to a study by Standard & Poor’s. S&P found that between mid-2007 and the end of last year, only 0.39% of European deals defaulted, compared with 4.3% in the U.S., and 12.4% of European deals experienced rating downgrades, compared with 40.6% in the U.S. The credit rater noted that most losses in Europe were concentrated in collateralized debt obligations, while in the U.S. they were more straightforward securitizations.
Click here to read the story from The Financial Times.