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122 Ratings In 43 European RMBS Transactions Placed On CreditWatch Negative After Expiry Of Counterparty Remedy Periods Feb 12
Standard & Poors, Feb 2012
Abstract
OVERVIEW On Nov. 29, 2011, we took rating actions on 37 of the largest rated banks following the application of our revised bank criteria. We subsequently took further rating actions on several banks as a result of applying this new criteria. Where we have lowered our rating on a counterparty below one of our documented structured finance ratings triggers and no resolution has been finalized (or a definitive plan been presented to us) following the expiry of the remedy period, we have placed the affected ratings on CreditWatch negative. We have placed on CreditWatch negative our ratings on 122 tranches in 43 European RMBS transactions where the counterparty plays a material role in supporting the ratings on the transaction. LONDON...
Companies mentioned in this report are: Auburn Securities 4 PLC
Action: On CreditWatch:Negative
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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