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Standard & Poor's had received notices of 33 U.S. collateralized debt obligations (CDOs) breaching overcollateralization ratio tests, triggering events of default, as of December 3, 2007. The majority (22) were mezzanine structured finance CDOs of asset-backed securities backed by recent residential mortgage-backed securities. Seven were high-grade structured finance CDOs of ABS, while four were CDOs of CDOs. S&P would continue providing weekly updates with additional CDOs receiving event of default notices.



