- Language: English
- Published: June 2012
- Region: Ireland
Ratings Assigned To Irish RMBS Transaction FASTNET Securities 7's Class A Notes Sep 11
- ID: 1886285
- September 2011
- Region: Ireland
- Standard & Poors
OVERVIEW We have assigned ratings to FASTNET Securities 7's notes following a restructure by the transaction's originator Irish Life & Permanent. This transaction closed in March 2009, but we weren't engaged to rate the notes at that time. The transaction securitizes a pool of residential mortgage loans originated in Ireland by Irish Life & Permanent. The restructure has involved, most notably: a change to the principal amounts of the notes, a change to the note interest, a reduction of the reserve fund, the removal of the swap, the appointment of BNP Paribas Securities Services as a new issuer account bank to replace Irish Life & Permanent in this role, and the appointment of Homeloan Management as back-up servicer. LONDON (Standard...
Companies mentioned in this report are: Fastnet Securities 7 Ltd.
Action: New Rating
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Research type: News
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Fastnet Securities 7 Ltd.