LONDON (Standard & Poor's) Oct. 3, 2006-Standard & Poor's Ratings Services said today that it assigned its preliminary credit ratings to the -875 million secured mortgage-backed floating-rate notes to be issued by Monastery 2006-I B.V., an SPE (see list below). The collateral pool consists of loans secured by first-ranking and sequentially lower-ranking mortgages over residential properties situated in The Netherlands. The loans comprise interest-only mortgage loans, annuity mortgage loans, and life mortgage loans. DSB Bank N.V. is the originator for this transaction. Some key features of the transaction are as follows: - All mortgage loans in the pool are first-ranking or first and sequentially lower-ranking residential mortgages with historically low losses. - The portfolio is geographically diverse and predominantly exposed...
Companies mentioned in this report are: Monastery 2006-I B.V.
Action: CreditWatch Update
Action: Preliminary Rating
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Research type: News
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