Ratings Lowered On Three Classes Of Wide Bay Australia (WB Trusts) RMBS Notes; 11 Classes Affirmed Feb 13
- ID: 2419421
- February 2013
- Region: Australia
- Standard & Poors
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
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