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S&P Credit Research908 word report
published Nov 08, 2009
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S&P Credit Research
| Abstract: | MELBOURNE (Standard&Poor's) Nov. 9, 2009--Standard&Poor's Ratings Services today corrected its rating on the class A2 residential mortgage-backed securities (RMBS) of Series 2004-1 REDS Trust. The trust had fully redeemed the class A-2 notes on March 28, 2007, with the proceeds from a reissue of class A2 notes on the same date, with similar terms and conditions. However, due to an administrative processing error, the 'AAA' rating assigned on March 28, 2007, to the reissued class A2 notes was not published, and the 'AAA' rating on the original class A2 notes was not withdrawn. Standard&Poor's has now published the rating on the reissued class A2 notes and withdrawn the 'AAA' rating on the original class
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| Brief Excerpt: | RESEARCH Ratings Definitions S&P Corrects Rating On Class A2 RMBS Notes Of Series 2004-1 REDS Trust Publication date: 08-Nov-2009 Primary Credit Analyst: Erin Kitson, Melbourne (61) 3-9631-2166; erin_kitson@standardandpoors.com Secondary...
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| Report Type: | Ratings Action
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| Issuer: | Series 2004-1 REDS Trust
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| Sector: | Structured Finance
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| Country: | Australia
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| Region: | Pacific
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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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