Further enhancing the CDO structuring and analytics tool, Standard & Poor's released version 2 of CDO Evaluator last week, featuring several new features allowing asset managers and investors to more fully analyze asset pools of both upcoming and outstanding transactions. New features include a new, rated overcollateralization analysis, as well as a more in-depth look into sovereign credits and the corporations based in these foreign markets.

The most significant addition is the new rated O/C feature, which allows collateral managers the opportunity to anticipate ratings migration of securities backing CDOs and react accordingly to potential downgrades - and upgrades - for corporate and sovereign debt securities. Compared to the original CDO Evaluator, S&P director Sten Bergman claims version 2 allows for both managers and investors to look at the entire transaction, rather than just the asset pool.

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