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36 Ratings Lowered And 343 Ratings Affirmed On 35 U.S. RMBS Re-REMIC Transactions Issued In 2003-2010 Dec 11
Standard & Poors, Dec 2011
Abstract
OVERVIEW We reviewed 35 U.S. RMBS re-REMIC transactions issued between 2003 and 2010. All of these transactions pay interest on a pro-rata basis, except for five which pay interest on a sequential basis. We lowered our ratings on 36 classes from 11 transactions and removed eight of them from CreditWatch with negative implications. We affirmed our ratings on 343 classes from seven transactions with lowered ratings and 22 other transactions, and removed five of them from CreditWatch negative. We withdrew our ratings on four classes from three transactions that were paid in full, and on three other classes from two transactions due to our IO criteria. We based our rating actions on our analysis of expected interest and principal, when...
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.
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