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21 Ratings Assigned, 117 Ratings Lowered, 309 Ratings Affirmed On 33 U.S. RMBS Transactions Issued In 1999-2008 Aug 11
Standard & Poors, Aug 2011
Abstract
OVERVIEW We reviewed 33 U.S. RMBS transactions backed by various collateral types issued in 1999-2008. We assigned ratings to 21 classes from 10 transactions previously not rated. We lowered our ratings on 117 classes from 26 transactions and removed nine of them from CreditWatch with negative implications. We affirmed our ratings on 309 classes from 23 of the transactions with lowered ratings and seven additional transactions and removed two of them from CreditWatch negative. We withdrew our ratings on seven interest-only classes, one of which was on CreditWatch negative. The assigned ratings reflect our previously assigned ratings to components of these classes. The downgrades reflect our view that the credit enhancement projected to be available to the affected classes is...
Action: Affirmed
Action: Downgraded
Action: New Rating
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Action: Withdrawn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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