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One Rating Lowered, 22 Ratings Affirmed On CSMC Series 2009-2R Feb 12 Product Image

One Rating Lowered, 22 Ratings Affirmed On CSMC Series 2009-2R Feb 12

  • ID: 2048261
  • February 2012
  • Standard & Poors

Abstract
OVERVIEW We lowered our rating on class 7-A-2 from CSMC Series 2009-2R, a U.S. RMBS re-REMIC transaction. We affirmed our ratings on 22 other classes from the same transaction and removed one of them from CreditWatch with negative implications. The downgrade reflects our belief that projected credit enhancement on the underlying transactions and within the re-REMIC structure will be insufficient to cover the projected loss we applied at the previous rating stress. Our ratings on the class 4-A-2 and 7-A-2 certificates address only the expected return of the principal amount. NEW YORK (Standard & Poor's) Feb. 3, 2012--Standard & Poor's Ratings Services today lowered its rating on class 7-A-2 from CSMC Series 2009-2R, a residential mortgage-backed securities (RMBS) resecuritized real...

Companies mentioned in this report are: CSMC Series 2009-2R
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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CSMC Series 2009-2R

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Note: Product cover images may vary from those shown

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