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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

  • Published: 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

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CSMC Series 2009-2R

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