One Rating Lowered And Eight Ratings Affirmed On Two RMBS Re-REMIC Transactions Issued In 2010 Mar 12
- Language: English
- Published: March 2012
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: Removed From CreditWatch
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Research type: News
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CSMC Series 2009-2R