Moody's put more CDOs under downgrade review

--More than $174 billion ofcollateralized debt obligations tied to U.S. mortgages were underreview for downgrades by Moody's Investors Service at the startof this month, according to the ratings company, suggesting the subprime crisis may deepen. --Moody's downgraded $50.9 billion of CDOs made up ofstructured-finance securities in November, or about 9.4 percentof the total, the New York-based company said in a statementtoday. Standard & Poor's, which today lowered ratings on $6.7billion of the debt, has so far downgraded or placed under review$57 billion of the debt. --Losses on the mortgage-bond CDO classes that are the leastexposed to defaults among their underlying securities may total $77 billion for banks and brokerages such as Citigroup Inc., Merrill Lynch & Co., and UBS AG and $29 billion for bond insurerssuch as MBIA Inc. and Ambac Financial Group Inc., according to aJPMorgan Chase & Co. report last month. The estimate representsactual credit losses after foreclosures on homeowners, notchanges in the values of the CDOs.