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Ratings Raised In Two HVB Building Comfort Transactions After Credit Analysis Dec 05 Product Image

Ratings Raised In Two HVB Building Comfort Transactions After Credit Analysis Dec 05

  • ID: 1831843
  • December 2005
  • Standard & Poors

Abstract
LONDON (Standard & Poor's) Dec. 22, 2005Standard & Poor's Ratings Services said today it took two separate rating actions on two RMBS transactions originated by Bayerische Hypo- und Vereinsbank AG. In Building Comfort 2002-1 and Building Comfort 2003-1 PLC it raised its ratings on the class B, C, and D notes. At the same time, the ratings on the remaining classes of notes and the senior CDS entered into by Building Comfort 2002-1 were affirmed (see list below). The upgrade of the various classes of notes follows Standard & Poor's detailed credit analysis of the loan portfolios referenced in the transactions. This took into account inherent risks like market value decline of underlying properties and foreclosure likelihood of delinquent borrowers,...

Companies mentioned in this report are:
- UniCredit Bank AG

Action: Affirmed
Action: Upgraded

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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