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606 Ratings Lowered And 249 Ratings Affirmed On 99 U.S. RMBS Alt-A Transactions Issued In 2005-2007; 45 Withdrawn Oct 11
Standard & Poors, Oct 2011
Abstract
OVERVIEW We reviewed 99 U.S. RMBS transactions backed by Alt-A mortgage loan collateral issued from 2005 through 2007. We reviewed these deals with updated loss projections and updated structure-level loss severities where applicable using observed liquidation data from the past 12 months. We lowered our ratings on 606 classes from 92 of these transactions and removed 404 of them from CreditWatch with negative implications. We affirmed our ratings on 249 classes from the transactions with lowered ratings as well as seven additional transactions, and removed 63 of them from CreditWatch negative. We withdrew our ratings on 45 classes from 23 transactions based on our interest-only criteria and removed 42 of them from CreditWatch negative. The downgrades reflect our belief that...
Companies mentioned in this report are: Alternative Loan Trust 2005-11CB
Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch
Action: Withdrawn
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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