Spanish RMBS Index Report Q1 2013: Severe Delinquencies Reach An All-Time High, Yet Vary Widely Among Servicers Jun 13
- Language: English
- Published: June 2013
- Region: Spain
Standard & Poor's Ratings Services has assigned its ' AA (sf)' credit rating to AyT Celeris Hipotecario I, Fondo de Titulizaci-n de Activos' -73.8 million class A notes. At the same time, AyT Celeris Hipotecario I issued an unrated loan B of -16.2 million. This is the first residential mortgage-backed securities (RMBS) securitization performed by Celeris Servicios Financieros, S.A., E.F.C. (Celeris). The main characteristic of the loans Celeris has securitized in this transaction is that the loan purpose is debt consolidation, and not just the purchase of a residential property. The structure is similar to IM Unnim RMBS 1, which we rated in July 2011, as it has class A notes and a loan B, and has no swap-leaving the...
Companies mentioned in this report are: AyT Celeris Hipotecario I, Fondo de Titulizacion de Activos
Action: New Rating
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Research Type: Full Analysis
AyT Celeris Hipotecario I, Fondo de Titulizacion de Activos