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ARCap 2004-RR3 Resecuritization Inc. Ratings Lowered On Classes H, J, And K To 'D (sf)'
Standard & Poors, May 2011
Abstract
OVERVIEW We lowered our ratings to 'D (sf)' from 'CCC- (sf)' on classes H, J, and K from ARCap 2004-RR3 Resecuritization Inc. The downgrades of classes J and K reflect the principal loss incurred by the classes. The downgrade of class H primarily stems from interest shortfalls that we expect will continue for the foreseeable future. NEW YORK (Standard & Poor's) May 12, 2011--Standard & Poor's Ratings Services today lowered its ratings to 'D (sf)' from 'CCC- (sf)' on the class H, J, and K certificates from ARCap 2004-RR3 Resecuritization Inc. (ARCap 2004-RR3). ARCap 2004-RR3 is a U.S. resecuritized real estate mortgage investment conduit (re-REMIC) transaction. The downgrades of the class J and K certificates follow an $8.8 million principal...
Companies mentioned in this report are: ARCap 2004-RR3 Resecuritization, Inc.
Action: Downgraded
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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