Moody's Investors Service last week unveiled one in a series of CDO research and monitoring tools it plans to roll out this year. The tool - called Performance Data Services for CDOs - is an internet-based platform designed for investors to conduct trend and performance analysis on both individual CDOs and pools, according to the rating agency.

Citing the increasing complexity and the growing popularity of the CDO market, Moody's also said it plans to continue adding CDO research services for investors throughout the year. For example, the rating agency intends to launch a new benchmark called the Moody's Tranche Score. The score will "highlight the performance of various collateral managers at different levels of the CDO's capital structure," Moody's Vice President Natasha Chen said in a statement last week.

The PDS for CDOs allows users to search for particular credits, so if an issuer were to be downgraded, any credits related to the name could be identified within a given CDO. The tool can also create "look-through" reports that aggregate underlying collateral and can provide portfolio summary statistics; it is also capable of creating custom indices, time series graphs, e-mail alerts and can download performance and trigger data.

(c) 2005 Asset Securitization Report and SourceMedia, Inc. All Rights Reserved.

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