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Ratings Lowered On Class M2a, M2b, And B1 Notes In Money Partners Securities 2's U.K. RMBS Transaction Aug 09 Product Image

Ratings Lowered On Class M2a, M2b, And B1 Notes In Money Partners Securities 2's U.K. RMBS Transaction Aug 09

  • ID: 2026697
  • August 2009
  • Region: United Kingdom, Great Britain
  • Standard & Poors

Abstract
OVERVIEW The rating actions follow a credit and cash flow analysis following the May investor report. We lowered our ratings on the classes M2a, M2b, and B1 and affirmed the other classes of notes. Money Partners Securities 2 is a U.K. nonconforming RMBS transaction arranged by The Royal Bank of Scotland. LONDON (Standard & Poor's) Aug. 3, 2009--Standard & Poor's Ratings Services today lowered and removed from CreditWatch negative its credit ratings on the class M2a and M2b notes issued by Money Partners Securities 2 PLC. At the same time, we lowered our rating on the class B1 notes and affirmed all the remaining notes (see list below). Today's rating actions follow our credit and cash flow review of the...

Companies mentioned in this report are:
- Money Partners Securities 2 PLC
- The Royal Bank of Scotland PLC

Action: Affirmed
Action: Downgraded
Action: Removed From CreditWatch

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.

- Money Partners Securities 2 PLC
- The Royal Bank of Scotland PLC

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