Ratings Lowered On Three Classes Of Wide Bay Australia (WB Trusts) RMBS Notes; 11 Classes Affirmed Feb 13

Standard & Poors, February 2013

Abstract
MELBOURNE (Standard & Poor's) Feb. 21, 2013--Standard & Poor's Ratings Services today lowered its ratings on three subordinated classes of prime residential mortgage backed securities (RMBS) notes issued by Wide Bay Australia Ltd. (WB Trusts) transactions. At the same time, we affirmed our ratings on 11 classes of notes. The rating actions follow the related rating action on Mortgage Risk Management Pty Ltd. (MRM), which provides lenders' mortgage insurance (LMI) to a small portion of loans in these transactions. We lowered our ratings to 'BBB- (sf)' on the class D notes issued by WB Trust 2005-1, WB Trust 2006-1, and WB Trust 2009-1 to reflect the financial strength rating of MRM, which provides LMI polices to a portion of loans...

Companies mentioned in this report are:
- WB Trust 2005-1
- WB Trust 2006-1
- WB Trust 2008-1
- WB Trust 2009-1

Action: Affirmed
Action: Downgraded

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.

- WB Trust 2005-1
- WB Trust 2006-1
- WB Trust 2008-1
- WB Trust 2009-1

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