The ratings on as much as â¬17bn ($25bn) worth of European securitised transactions are under threat from the move by Fitch Ratings last week to strip US bond insurance company Ambac of its triple-A ranking, according to credit analysts.
Deutsche Bank said in a report published today the bond insurance sector hit a new low on Friday, when ratings agency Fitch downgraded Ambacâs top investment grade ratings by two notches from AAA to AA territory, potentially affecting the guarantees on the bonds it has insured.
