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Italian RMBS Index Report Q3 2011: Performance Proves Resilient To A Weakening Economy Nov 11
Standard & Poors, Nov 2011
Abstract
The performance of Italian residential mortgage-backed securities (RMBS) transactions was stable in the third quarter of 2011, in line with that in the first half of the year, in Standard & Poor's Ratings Services' view. Severe delinquencies-those more than 90 days-remained below 1.5%. However, we believe overall performance could deteriorate in the upcoming months as the eurozone's growth prospects continue to falter and Italy's economic recovery stretches on. The prospect that Europe might dip into recession again is looking more likely. The flow of news and market developments in recent weeks, such as sharply deteriorating business sentiment and a projected slowdown in the U.S., has led us to once again cut our projections for economic growth in 2012. This follows...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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