globeandmail.com: Streetwise - CIBC faces more monoline write-offs
globeandmail.com: Streetwise - CIBC faces more monoline write-offs CIBC faces more monoline write-offs Andrew Willis, May 21, 2008 at 2:43 PM EDT * Post the first comment * Back to the blog For all the brave talk that the worst is over in credit markets, CIBC still faces the potential for further writedowns on its exposure to monoline insurers. Rating agency Moody’s took an axe to CIBC counterparty CIFG on Tuesday, downgrading the monoline by a dramatic seven notches, from A1 to Ba2.
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