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S&P Credit Research2114 word report
published Jul 08, 2009
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S&P Credit Research
| Abstract: | OVERVIEW We reviewed 10 RMBS transactions backed by U.S. prime jumbo, Alt-A, subprime, and scratch-and-dent mortgage loan collateral issued from 2005 to 2007. We lowered our ratings on 86 classes from these transactions and affirmed our ratings on 11 classes from four of the transactions. We removed 40 of the lowered ratings and one 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 8, 2009--Standard&Poor's Ratings Services today lowered its ratings on 86
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| Brief Excerpt: | RESEARCH Ratings Definitions 86 Ratings Lowered On 10 U.S. Prime Jumbo, Alt-A, Subprime, And Scratch-And-Dent RMBS Deals From 2005-2007 Publication date: 08-Jul-2009 Primary Credit Analyst: Jong W Kim, New York (1) 212-438-2886; jong_kim@standardandpoor...
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| Report Type: | Ratings Action
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| Issuer: | ABFC 2007-WMC1 Trust
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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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- New Issue: ABFC 2007-WMC1 Trust $400.00
Standard&Poor's Ratings Services has assigned the ratings shown to this transaction. The ratings are based on levels of credit enhancement (including subordination, overcollateralization, excess interest, and derivative contracts) that meet ...
