• +353-1-415-1241(GMT OFFICE HOURS)
  • 1-800-526-8630(US/CAN TOLL FREE)
  • 1-917-300-0470(EST OFFICE HOURS)
Portuguese RMBS Index Report Q2 2011?Further Economic Contraction May Cause A Rise In Delinquencies Sep 11 Product Image

Portuguese RMBS Index Report Q2 2011?Further Economic Contraction May Cause A Rise In Delinquencies Sep 11

  • Published: September 2011
  • Standard & Poors

Abstract
On April 1 2011, Standard and Poor's Ratings Services downgraded 54 tranches of Portuguese residential mortgage-backed securities (RMBS) notes as a consequence of the downgrade of the Republic of Portugal's sovereign rating to 'BBB-/Negative' (see "Ratings Lowered On 68 Tranches In 48 Portuguese ABS And RMBS Transactions," published on April 1, 2011). These downgrades reflect the increased country risk that Portugal faced in Q2 2011, which caused residential mortgage loan performance to deteriorate as a result. In fact, increased country risk, rather than poor collateral performance, motivated about two-thirds of the Portuguese RMBS rating downgrades that we made in the year to June 30, 2011. What's more, if the eurozone sovereign crisis continues at the pace observed over the past...

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 READ MORE >

Magellan Mortgages No. 1 PLC,Navigator Mortgage Finance No.1 PLC,Lusitano Mortgages No. 1 PLC,Atlantes Mortgage No.1 PLC,HipoTotta No. 1 PLC,Pelican Mortgages No. 2 PLC,Lusitano Mortgages No. 2 PLC,Magellan Mortgages No. 2 PLC,Nostrum Mortgages 2003-1 PLC,SAGRES Sociedade de Titularizacao de Creditos, S.A.,Lusitano Mortgages No. 3 PLC,Azor Mortgages PLC,Magellan Mortgages No. 3 PLC,Lusitano Mortgages No. 4 PLC,Magellan Mortgages No. 4 PLC,Lusitano Mortgages No. 5 PLC,HipoTotta No. 4 PLC,HipoTotta No. 5 PLC,Lusitano Mortgages No. 6 Ltd.,GAMMA Sociedade de Titularizacao de Creditos, S.A.,HipoTotta No. 7 Ltd.,Magellan Mortgages No. 5 Ltd.,Lusitano Mortgages No. 7 Ltd.,TAGUS - Sociedade de Titularizacao de Creditos, S.A.,Magellan Mortgages No. 6 Ltd.

Format Properties
Electronic The report will be emailed to you.
Note: Product cover images may vary from those shown
More

RELATED PRODUCTS