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12 Ratings Lowered And 29 Ratings Affirmed From Five RMBS Re-REMIC Transactions Issued In 2003-2010 May 11
Standard & Poors, May 2011
Abstract
OVERVIEW We reviewed five U.S. RMBS re-REMIC transactions issued in 2003-2010. Four of these transactions pay interest pro rata within each group while the remaining deal pays interest sequentially within each of its groups. We lowered our ratings on 12 classes from three of these transactions and removed all of them from CreditWatch with negative implications. We affirmed our ratings on 29 classes from two of the transactions that had lowered ratings and on two other transactions, and removed 22 of them from CreditWatch negative. We based our rating actions on our analysis of expected interest and principal, when applicable, payable to these classes of securities under our applicable rating scenario stresses. NEW YORK (Standard & Poor's) May 20, 2011--Standard...
Companies mentioned in this report are: Deutsche Mortgage Securities, Inc.,Financial Asset Securities Corp. AAA Trust 2003-1,Financial Asset Securities Corp. AAA Trust 2005-1,RBSSP Resecuritization Trust 2010-4,J.P. Morgan Resecuritization Trust, Series 2010-5
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
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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