10 Ratings Lowered And 139 Ratings Affirmed From Four Re-REMIC Transactions Issued In 2008-2010 Jun 11

Standard & Poors, June 2011

Abstract
OVERVIEW We reviewed four U.S. RMBS re-REMIC transactions issued between 2008 and 2010. These transactions pay interest entirely on a pro rata basis. We lowered our ratings on 10 classes from Bank of Internet Resecuritization Trust 2008-1 and removed all of the lowered ratings from CreditWatch with negative implications. We affirmed our ratings on 139 classes from three other transactions and removed all of them from CreditWatch negative. We based our rating actions on our analysis of expected interest and principal, when applicable, payable to these classes of securities under our applicable rating scenario stresses. NEW YORK (Standard & Poor's) June 10, 2011--Standard & Poor's Ratings Services today lowered its ratings on 10 classes from Bank of Internet Resecuritization Trust...

Companies mentioned in this report are: Bank of Internet Resecuritization Trust 2008-1,JMAC Master Resecuritization Trust I Series 2009-B,CSMC Series 2010-4R,CSMC Series 2010-9R
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

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.

Bank of Internet Resecuritization Trust 2008-1,JMAC Master Resecuritization Trust I Series 2009-B,CSMC Series 2010-4R,CSMC Series 2010-9R

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