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Bulletin: Ratings Remain Unchanged In DSB Bank-Originated Securitizations After Bankruptcy Receiver Restores Servicing Feb 10
Standard & Poors, Feb 2010
Abstract
OVERVIEW Following further discussions with DSB Bank, its bankruptcy receiver, and trustees involved in the transactions, all the ratings in securitizations backed by loan portfolios originated or serviced by DSB Bank remain unchanged. Since DSB Bank's insolvency, each of the DSB securitizations made its respective scheduled interest and principal payments when due. LONDON (Standard & Poor's) Feb. 16, 2010--Following further discussions with DSB Bank N.V. (DSB), its bankruptcy receiver, and relevant trustees, Standard & Poor's Ratings Services said today that all of its ratings on seven securitizations originated or serviced by DSB remain unchanged. The DSB securitizations consist of three asset-backed securities (ABS) transactions (Chapel 2003-I B.V., Chapel 2007 B.V., and Chapel 2009 B.V.) and four residential mortgage-backed securities (RMBS)...
Companies mentioned in this report are: Chapel 2003-I B.V.,Monastery 2004-I B.V.,Monastery 2006-I B.V.,Chapel 2007 B.V.
Action: Bulletin
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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