These two slides give an overview of the the total global Structured finance bond downgrades since January 2007. Furthermore, they show the split between US and Europe. Slides have been shown at the Global ABS Investors\' & Regulators\' roundtable, 2/3 June 2009. Underlying data has been compiled from Bloomberg\'s <RATT> function.

1. Global SF Bond Downgrades – by Rating agency
(1Q07 to 31/5/2009)
120,000
110,000
111,605
TOTAL S&P Moody's Fitch
100,000
90,000
80,000
70,000
68,372
60,000
50,000
49,594 50,968
47,510
40,000 44,341
30,000
30,749
20,000
10,000 7,992
1,166 2,042
0
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 until 31 May
2009
(Since January 2007 ‐ Source: Bloomberg)
1

2. SF Bond Downgrades – US vs. Europe
(1Q07 to 31/5/2009)
120,000
110,000
111,239
TOTAL Europe US
100,000
90,000
80,000
70,000
68,073
60,000
50,000
49,160 50,676
47,284
40,000 44,051
30,000
30,597
20,000
10,000 7,981
1,161 2,035
0
1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 until 31 May
2009
(Since January 2007 ‐ Source: Bloomberg)
2