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S&P Corrects Bayview Commercial Asset Trust 2004-2 Class B-2 Rating; Various Actions Taken On Remaining Ratings Jan 12
Standard & Poors, January 2012
OVERVIEW We corrected our rating on class B-2 from Bayview Commercial Asset Trust 2004-2 to 'B (sf)' from 'D (sf)'. We raised our rating on class B-1 from that transaction to 'BB (sf)' from 'B (sf)' due to declining delinquencies and a lower projected loss for this structure. We lowered our ratings on class A to 'AA+ (sf)' from 'AAA (sf)' and on class M-1 to 'A+ (sf)' from 'AA (sf)' as a result of temporary interest shortfalls. We affirmed our rating on class M-2. We withdrew our rating on class IO from the same transaction. We removed all of the ratings from CreditWatch with negative implications. The rating correction reflects our belief that the amount of projected credit enhancement...
Companies mentioned in this report are: Bayview Commercial Asset Trust 2004-2
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.
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Bayview Commercial Asset Trust 2004-2