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Ratings Lowered In Spanish RMBS Transaction Santander Hipotecario 5 Product Image

Ratings Lowered In Spanish RMBS Transaction Santander Hipotecario 5

  • ID: 1782990
  • May 2011
  • Region: Spain
  • 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
OVERVIEW We have observed an increase in defaulted loans since our last review, and have reviewed the current levels of delinquencies in this transaction. As a result of our review, we have downgraded the class A, B, C, D, and E notes. We also affirmed the 'D (sf)' rating on the class F notes. Santander Hipotecario 5 closed in November 2008, with Banco Santander acting as originator and servicer for the underlying portfolios. MADRID (Standard & Poor's) May 6, 2011--Standard & Poor's Ratings Services today lowered its credit ratings on the class A, B, C, D, and E notes in Fondo de Titulizacion de Activos Santander Hipotecario 5. At the same time, we affirmed our 'D (sf)' rating on the...

Companies mentioned in this report are: Fondo de Titulizacion de Activos Santander Hipotecario 5
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

Fondo de Titulizacion de Activos Santander Hipotecario 5

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