Derivative Fitch cuts $29.8 bln of subprime CDOs

NEW YORK, Nov 21 (Reuters) - Derivative Fitch cut $29.8 billion worth of structured finance collateralized debt obligations and affirmed $3.8 billion of the securities, the rating company said on Wednesday.

Fitch's global review of such CDOs tied to deteriorated subprime mortgage debt resulted in aggregate downgrades of $67 billion, including affirmations of $10.7 billion of structured finance CDOs across 158 deals, Fitch said.

(Reporting by Walden Siew, Editing by Chizu Nomiyama)