New Issue: BBVA RMBS 7, Fondo de Titulización de Activos May 11
- ID: 1783828
- May 2011
- Standard & Poors
On the Feb. 24, 2011, Standard & Poor's Ratings Services assigned credit ratings to BBVA RMBS 7, Fondo de Titulización de Activos' class A floating-rate notes. On the last payment date, March 21, 2011, class A had amortized to €6,108.41 million. At closing, BBVA RMBS 7 also issued unrated class B and C notes. This transaction closed in November 2008, but we were not engaged to rate the notes at that time. Since closing, the class A notes have amortized to €6,108.41 million from an initial amount of €8,211.00 million. At closing, BBVA RMBS 7 acquired credit rights backed by flexible prime mortgage loans (see "Notable Features"). To fund this purchase, it issued three classes of notes. A reserve fund...
Companies mentioned in this report are:
- Banco Bilbao Vizcaya Argentaria S.A.
Action: New Rating
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Research Type: Full Analysis