Criteria: Recovery Assumptions Revised For Certain CDOs Backed Predominantly By U.S. RMBS - 2008/04/28 - S&P Credit Research

Report title: Criteria: Recovery Assumptions Revised For Certain CDOs Backed Predominantly By U.S. RMBS

from S&P Credit Research
1442 word report published Apr 28, 2008

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Abstract:

NEW YORK (Standard&Poor's) April 28, 2008--Standard&Poor's Ratings Services today announced that it has revised its recovery-upon-default assumptions for collateralized debt obligation (CDO) securities backed by certain U.S. residential mortgage-backed securities (RMBS) collateral, including Alternative-A (Alt-A), subprime, home equity loan, and tax-lien RMBS issued in the U.S. during and after the fourth quarter of 2005 ("the affected U.S. RMBS"). This article addresses our assumptions related to the "credit quality of the securitized assets" principal discussed in a previous article, ?Criteria: Principles-Based Rating Methodology For Global Structured Finance Securities," which we published on May 29, 2007. These revisions to our recovery–upon-default assumptions for CDOs follow updates to our recovery assumptions for certain RMBS securities, which we completed earlier

Brief Excerpt:

RESEARCH Ratings Definitions Criteria: Recovery Assumptions Revised For Certain CDOs Backed Predominantly By U.S. RMBS Publication date: 28-Apr-2008 Global Practice Leader - CDO Ratings: Patrice Jordan, Global Practice Leader - CDO...

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Sector:

Asset-Backed Commercial Paper, Asset-Backed Securities, Collateralized Debt Obligations, Commercial MBS, Corporations, Financial Institutions, Global Issuers, Insurance, International Public Finance, Public Finance, Real Estate Companies, Residential MBS, Servicer Evaluations, Sovereigns, Structured Finance, Utilities

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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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