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Argent Securities Inc. Ratings Affirmed on Various Transactions
Standard & Poors, June 2004
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) June 22, 2004--Standard & Poor's Ratings Services today affirmed its ratings on 81 classes of asset-backed pass-through certificates from various transactions issued by Argent Securities Inc. (see list). The affirmations reflect actual and projected credit support percentages that adequately support the current ratings. The collateral underlying these transactions is performing well, as evidenced by little or no cumulative losses. As of May 2004, cumulative losses for these transactions ranged from $0 (series 2003-W-3, 2003-W4, 2003-5, 2003-6, and 2003-7) to approximately $73,961 (series 2003-W2). The collateral pools underlying the transactions consist generally of conventional, one- to four-family, adjustable- and fixed-rate mortgage loans secured by first liens on residential properties. Credit support is provided by overcollateralization, subordination,...
Companies mentioned in this report are: Argent Securities Inc.,Assured Guaranty Corp
Action: Affirmed
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