European CMBS Monthly Bulletin (July 2012): Downgrades Persist With Deteriorating Loan Performance Jul 12
- Language: English
- Published: July 2012
- Region: Europe
This transaction update follows a review of the Epic (Ayton) PLC transaction based on the January 2007 report released by the servicer, The Royal Bank of Scotland PLC (RBS). As a result of this review, Standard & Poor's removed from CreditWatch with positive implications and raised the ratings on the class C, D, E, and F notes to 'AAA', 'AAA', 'AA' and 'A', respectively. The ratings on the class A and B notes were affirmed. The upgrades were triggered by prepayments of the three smallest loans, which has improved credit enhancement levels for all classes apart from the class F notes and delevered the LTV ratios for all note classes. The loans which prepaid were the Dunedin (19.8% of pool...
Companies mentioned in this report are:
- Epic (Ayton) PLC
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