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New Issue: E-MAC DE 2006-II B.V. Mar 07
Standard & Poors, March 2007
Standard & Poor's Ratings Services has assigned credit ratings to the -703.5 million mortgage-backed floating-rate notes issued by E-MAC DE 2006-II B.V. The E-MAC DE 2006-II transaction is structured as a true-sale RMBS. The collateral is a pool of mortgage loans, which are secured by residential properties in Germany. The originator is GMAC-RFC Bank GmbH. The ratings assigned to the notes reflect the sound payment structure and cash flow mechanics of the transaction and the cash flow analysis performed by Standard & Poor's to verify that the notes will be repaid under stress test scenarios. Further considerations include: The protection for class A, B, C, D, and E noteholders provided by respective subordination, and for all noteholders by a 0.5%...
Companies mentioned in this report are: E-MAC DE 2006-II B.V.
Action: New Rating
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: Full Analysis
E-MAC DE 2006-II B.V.