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Preliminary Ratings Assigned In First Active PLC's Irish RMBS Securitization Jul 06 Product Image

Preliminary Ratings Assigned In First Active PLC's Irish RMBS Securitization Jul 06

  • ID: 1781811
  • July 2006
  • Region: Ireland
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) July 18, 2006Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the €1,790 million residential mortgage-backed floating-rate notes to be issued by Celtic Residential Irish Mortgage Securitisation No. 10 PLC, an SPE (see list below). The collateral comprises first-lien residential mortgage loans situated in the Republic of Ireland. The originator is First Active PLC. First Active is one of the largest residential mortgage lenders in the Republic of Ireland. It has extensive experience in the servicing of portfolios for securitizations. This is First Active's 10th public securitization, the structure of which is very similar to that of the previous securitization, Celtic Residential Irish Mortgage Securitisation No. 9 PLC. This is...

Companies mentioned in this report are:
- Celtic Residential Irish Mortgage Securitisation No. 10 PLC

Action: Downgraded
Action: Preliminary Rating

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.

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- Celtic Residential Irish Mortgage Securitisation No. 10 PLC

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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