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S&P Credit Research1246 word report
published Nov 03, 2009
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S&P Credit Research
| Abstract: | OVERVIEW We reviewed 314 RMBS transactions backed by U.S. Alternative-A mortgage loan collateral issued in 2002, 2003, and 2004. We downgraded 1,124 classes from 287 of these transactions and affirmed our ratings on 2,210 classes from 295 transactions. We removed 140 of the affirmed ratings and 141 of the lowered ratings from CreditWatch negative. The downgrades reflect our belief that credit enhancement for the affected classes will be insufficient to cover projected losses due to increased delinquencies and the current condition of the housing market. NEW YORK (Standard&Poor's) Nov. 3, 2009--Standard&Poor's Ratings Services today lowered its ratings on 1,124 classes from 287 residential mortgage-backed securities (RMBS) transactions backed by U.S. Alternative-A mortgage loan collateral issued in
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| Brief Excerpt: | RESEARCH Ratings Definitions 1,124 Ratings Lowered On 287 U.S. Alt-A RMBS Transactions From 2002-2004; 2,210 Ratings On 295 Deals Affirmed Publication date: 03-Nov-2009 Primary Credit Analyst: Andrew J Giudici, New York (1) 212-438-1659;...
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| Report Type: | Ratings Action
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| Issuer: | Adjustable Rate Mortgage Trust 2004-1
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| Sector: | Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
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