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S&P Credit Research1717 word report
published Jul 07, 2009
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S&P Credit Research
| Abstract: | OVERVIEW We reviewed 17 RMBS transactions backed by U.S. scratch-and-dent mortgage loan collateral issued between 2003 and 2007. We lowered our ratings on 63 classes from 15 transactions and affirmed our ratings on 18 classes from 11 of these transactions and on two additional transactions. We removed 46 of the lowered ratings and 10 of the affirmed ratings from CreditWatch negative. The downgrades reflect our belief that the amount of credit enhancement available for the downgraded classes will not be sufficient to cover our projected increase in losses due to increases in delinquencies and the current negative condition of the housing market. NEW YORK (Standard&Poor's) July 7, 2009--Standard&Poor's Ratings Services today lowered its ratings on 63
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| Brief Excerpt: | RESEARCH Ratings Definitions 63 Ratings Lowered On 15 U.S. Scratch-And-Dent RMBS Transactions Issued In 2003-2007; 18 Ratings Affirmed Publication date: 07-Jul-2009 Primary Credit Analyst: John Schuk, New York (1) 212-438-5102; john_schuk@standardandpoo...
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| Report Type: | Ratings Action
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| Issuer: | ACE Securities Corp. Home Equity Loan Trust, Series 2006-SD3
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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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