Agency didn't follow its models on CDO ratings

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One of the top two rating agencies gave triple A ratings to a more significant chunk of collateralised debt obligations (CDOs) than, according to their own models, they deserved, research has indicated.

The research also suggested that the agency failed to apply the appropriate criteria for downgrades until the spring of 2007.

Speaking the Atlanta Federal Reserve's financial markets conference on Tuesday, John Griffin, a professor at the University of Texas at Austin and one of two economists th

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