248 Ratings Lowered And 298 Affirmed On 52 U.S. RMBS Prime Jumbo Transactions Issued In 2002-2004; 21 Ratings Withdrawn May 11

  • ID: 1807682
  • May 2011
  • Region: United States
  • Standard & Poors
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OVERVIEW We reviewed 52 U.S. RMBS transactions backed by prime jumbo collateral issued in 2002 to 2004. We lowered our ratings on 248 classes from 48 transactions and affirmed our ratings on 298 classes from 42 of the transactions with downgrades and four additional transactions. We withdrew our ratings on 21 classes from nine transactions: 18 interest-only classes and three additional classes that have received their full amount of scheduled principal and currently have a zero balance. The downgrades reflect our view that the amount of projected credit enhancement available for the downgraded classes is not sufficient to cover our projected losses at the previous rating levels. NEW YORK (Standard & Poor's) May 27, 2011--Standard & Poor's Ratings Services today...

Companies mentioned in this report are: Banc of America Funding 2004-5 Trust
Action: Affirmed
Action: Downgraded
Action: Withdrawn

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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Banc of America Funding 2004-5 Trust

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