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Rating Affirmed On Class C Notes In Spanish RMBS Transaction Hipocat 15; Ratings On Classes A And B Unchanged
Standard & Poors, March 2011
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.
OVERVIEW We placed or kept our ratings on six Hipocat Spanish RMBS deals on CreditWatch negative in July 2010 due to potential reporting issues for this shelf of transactions. As of today, and after having received updated and what we believe correct information, we are in a position to resolve the CreditWatch negative placement on the affected notes. We received confirmation from the trustee that the underestimation did not affect Hipocat 15. Today, following a credit analysis, we have affirmed and removed from CreditWatch negative our rating on Hipocat 15's class C notes. At the same time, we have kept our ratings on classes A and B on CreditWatch negative due to their counterparty exposure, but these notes are no...
Companies mentioned in this report are: Hipocat 15, Fondo de Titulizacion de Activos
Action: On CreditWatch:Negative
Action: Removed From CreditWatch
Hipocat 15, Fondo de Titulizacion de Activos