Man, I was waiting for it to come out this week.
London, 05 December 2007 -- Moody's Investors Service announced today that it has extended its review period for Structured Investment Vehicles (SIVs) due to the receipt of new, material information about possible changes to these issuers' operations. In some cases, SIV managers are contemplating changes to their management strategies with the objective of reducing market value risk for senior debt investors, while in other cases SIV managers are in the process of implementing restructuring proposals that would provide more protection to senior debt holders. Given the complexity and evolving nature of these wide-ranging remedial measures, Moody's requires additional time to thoroughly evaluate the rating impact of each SIV's unique action plan. In addition, Moody's will announce the conclusion of its individual SIV reviews as they occur, rather than upon the completion of a sector-wide review, in order to avoid unnecessary delay in communicating its rating actions to the public. We expect to conclude our review of most of the affected SIVs within two weeks.
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