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Ratings Affirmed On Dutch RMBS Transaction Provide Lowlands 1's Class A+, A, B, And C Notes
Standard & Poors, May 2011
OVERVIEW Following a detailed review of the performance of the Provide Lowlands 1 transaction, we have affirmed the ratings on all classes of notes. Provide Lowlands 1 is a partially-funded synthetic Dutch RMBS transaction. LONDON (Standard & Poor's) May 12, 2011--Standard & Poor's Ratings Services today affirmed its ratings on Provide Lowlands 1 B.V.'s class A+, A, B, and C notes (see list below). Today's affirmations follow our review of the transaction performance. Credit support is provided by a net margin amount and a threshold amount, both of which the transaction can use to absorb losses before any losses can be claimed on the notes. The net margin amount is defined as 0.0625% of the performing pool balance, and the...
Companies mentioned in this report are: Provide Lowlands 1 B.V.
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
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Provide Lowlands 1 B.V.