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Ratings Lowered To 'D' On 57 Classes From 57 U.S. RMBS Transactions Issued In 2004-2006 Jun 08 Product Image

Ratings Lowered To 'D' On 57 Classes From 57 U.S. RMBS Transactions Issued In 2004-2006 Jun 08

  • ID: 1825668
  • June 2008
  • Region: United States
  • Standard & Poors

Abstract
NEW YORK (Standard & Poor's) June 30, 2008--Standard & Poor's Ratings Services today lowered its ratings to 'D' on 57 classes of U.S. residential mortgage-backed securities (RMBS) certificates from 57 transactions issued by various issuers from 2004 to 2006 (see list). All of the ratings are being lowered to 'D' because the classes have either failed to receive their scheduled principal or have suffered a principal write-down and, therefore, are in default. Of the classes we downgraded to 'D', we lowered one rating from the 'B' category, 28 from the 'CCC' category, and 28 from the 'CC' category. We will continue to monitor these transactions and adjust the ratings on the remaining classes if the available credit support is no...

Action: Downgraded

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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