- Language: English
- Published: October 2012
- Region: United States
Review Of 48 U.S. RMBS Deals From 2001-2008 Yields 103 Downgrades, One Upgrade, And 151 Affirmations Jan 12
- ID: 2042119
- January 2012
- Region: United States
- Standard & Poors
OVERVIEW We reviewed 48 U.S. RMBS transactions backed by mixed mortgage loan collateral issued between 2001 and 2008. We lowered our ratings on 103 classes from 35 of the reviewed transactions and removed 20 of them from CreditWatch with negative implications. We upgraded one class from a single transaction. We affirmed our ratings on 151 classes from 35 of the reviewed transactions and removed 12 of them from CreditWatch negative. We withdrew our ratings on 10 interest-only classes from three transactions, two of which were on CreditWatch negative. The downgrades reflect our belief that projected credit enhancement for the affected classes will be insufficient to cover projected losses at the previous rating levels. The upgrade reflects, among other factors, our...
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Research type: News
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