The CDO of ABS review covers the latest developments in the European cash CDO of ABS market. We review both CDOs of "traditional" ABS, including RMBS, CMBS, and consumer ABS, as well as CDOs of other CDO tranches, so-called CDO squared transactions. Although most CDOs of high-grade ABS and CDO squareds involve U.S. assets, this article's focus is on those transactions that were rated out of Europe.

These research articles are updated regularly and are available to subscribers of RatingsDirect®, Standard & Poor's Web-based credit research and analysis system, at www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase individual copies of these reports by contacting RatingsDirect. Members of the media may request a copy of this report by contacting the media representative.

Ratings information can also be found on Standard & Poor's public Web site under Credit Ratings.