CDO investors and bankers who subscribe to Standard & Poor's proprietary CDO Evaluator are in for a nice surprise. Version 2.2 is set to debut in the coming weeks, the rating agency said.

Besides an increase in execution speed, CDO Evaluator E2.2 promises to be less cumbersome in execution with fewer keystrokes needed to perform tasks. The most noticeable improvement will be a worksheet feature. Using a theoretical CDO, the worksheet can be used to produce a breakdown of the entire capital structure for the theoretical deal, down to calculating subordination required at each tranche level. A pool generator creates a complete CDO portfolio, both for corporates and ABS assets, either separately or together.

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