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32 Ratings Lowered To 'D (sf)' On Eight U.S. RMBS Securitized Asset Backed Receivables LLC Trust Transactions May 11
Standard & Poors, May 2011
Abstract
OVERVIEW We reviewed eight U.S. RMBS Securitized Asset Backed Receivables LLC Trust transactions issued in 2006-2007 and backed by subprime mortgage collateral. We lowered our ratings to 'D (sf)' on 32 classes from the eight transactions and removed nine of them from CreditWatch with negative implications. The downgrades reflect payment defaults due to the disruptions of timely interest payments to the classes. NEW YORK (Standard & Poor's) May 23, 2011--Standard & Poor's Ratings Services today lowered its ratings to 'D (sf)' on 32 classes from eight U.S. residential mortgage-backed securities (RMBS) Securitized Asset Backed Receivables LLC Trust transactions issued in 2006-2007 and backed by subprime mortgage loans. We removed our ratings on nine of these classes from CreditWatch with negative...
Companies mentioned in this report are: Securitized Asset Backed Receivables LLC Trust 2006-FR4 ,Securitized Asset Backed Receivables LLC Trust 2006-WM3,Securitized Asset Backed Receivables LLC Trust 2006-WM4,Securitized Asset Backed Receivables LLC Trust 2007-HE1,Securitized Asset Backed Receivables LLC Trust 2007-BR2,Securitized Asset Backed Receivables LLC Trust 2007-BR4,Securitized Asset Backed Receivables LLC Trust 2007-BR3,Securitized Asset Backed Receivables LLC Trust 2007-BR5
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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