European RMBS CreditWatch Placements Linked To Recent Bank Rating Actions--Dec. 21, 2011 Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's Ratings Services today placed on CreditWatch negative its credit ratings on 305 tranches in 120 European residential mortgage-backed securities (RMBS) transactions. For the related media release, see "Ratings On 305 Tranches In 120 European RMBS Transactions Placed On CreditWatch Negative After Bank Rating Actions." The table below provides the transaction names, series, and ratings for the affected European RMBS tranches. SEC Rule 17g-7 requires an NRSRO, for any report accompanying a credit rating relating to an asset-backed security as defined in the Rule, to include a description of the representations, warranties and enforcement mechanisms available to investors and a description of how they differ from the representations, warranties and enforcement mechanisms in issuances of similar securities. The...
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Research Type: Commentary
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