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Structured Asset Securities Ratings Lowered On 3 Series; Ratings From 4 Series Put On WatchNeg Product Image

Structured Asset Securities Ratings Lowered On 3 Series; Ratings From 4 Series Put On WatchNeg

  • ID: 1721139
  • September 2006
  • Standard & Poors

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) Sept. 28, 2006--Standard & Poor's Ratings Services today lowered its ratings on three classes of mortgage pass-through certificates from Structured Asset Securities Corp.'s series 2003-25XS, 2003-28XS, and 2004-4XS and placed them on CreditWatch with negative implications. At the same time, the rating on class M3 from Structured Asset Securities Corp.'s series 2003-3XS is placed on CreditWatch with negative implications. Concurrently, ratings are affirmed on 142 classes from 16 series issued by Structured Asset Securities Corp. (see list). The lowered ratings and negative CreditWatch placements reflect losses incurred by these transactions. Approximately 41% of the principal balance of class M3 from series 2003-25XS has been written down due to losses. Moreover, approximately 88% of the principal...

Companies mentioned in this report are: Structured Asset Securities Corp.
Action: Affirmed
Action: Downgraded
Action: On CreditWatch:Negative

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