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34 Ratings Lowered And 180 Ratings Affirmed From Seven Re-REMIC Transactions Issued In 2007-2010 May 11 Product Image

34 Ratings Lowered And 180 Ratings Affirmed From Seven Re-REMIC Transactions Issued In 2007-2010 May 11

  • ID: 1804829
  • May 2011
  • Standard & Poors

FEATURED COMPANIES

  • BCAP LLC 2008-RR2 Trust
  • BCAP LLC 2010-RR1 Trust
  • BCAP LLC 2010-RR4-I Trust
  • CMO Holdings III Ltd.
  • MORE

Abstract
OVERVIEW We reviewed seven U.S. RMBS re-REMIC transactions issued in 2007-2010. One of these transactions paid interest entirely on a sequential basis, while each of the other six had a pro rata interest payment structure in at least one of its collateral groups. We lowered our ratings on 34 classes from three of these transactions and removed 33 of them from CreditWatch with negative implications. We affirmed our ratings on 180 classes from six transactions and removed 91 of them from CreditWatch negative. At the same time, we withdrew our ratings on three classes from two transactions, one of which was on CreditWatch negative. We based our rating actions on our analysis of expected interest and principal, when applicable, payable...

Companies mentioned in this report are:
- CMO Holdings III Ltd.
- BCAP LLC 2008-RR2 Trust
- BCAP LLC 2010-RR1 Trust
- RBSSP Resecuritization Trust 2010-3
- BCAP LLC 2010-RR4-I Trust
- BCAP LLC 2010-RR4-II Trust

Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

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Note: Product cover images may vary from those shown

- CMO Holdings III Ltd.
- BCAP LLC 2008-RR2 Trust
- BCAP LLC 2010-RR1 Trust
- RBSSP Resecuritization Trust 2010-3
- BCAP LLC 2010-RR4-I Trust
- BCAP LLC 2010-RR4-II Trust

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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