Moody's has put about $7.34 billion of European collateralized debt obligations with exposure to troubled U.S. subprime mortgages on review for downgrade and downgraded approximately $254.13 million of securities in this category."A total of 129 tranches from 36 CDOs are affected, with the proportion of downgraded subprime assets present in individual portfolios ranging from 6.00% to 83.35%," the rating agency said. Moody's added that the most negatively affected securities are "those containing U.S. ABS CDOs and 2006 U.S. subprime RMBS assets that were originally rated Baa or below, due to the greater severity of downgrades already experienced by these securities." The rating agency can be found online at http://www.moodys.com.

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