S&P Credit Research



Title:

Ratings On Junior Notes In German RMBS E-MAC DE 2005-I And 2006-I Placed On Watch Neg

Price:$100.00
Publication Date:Apr 30, 2008
Report Type:News
Abstract:FRANKFURT (Standard&Poor's) April 30, 2008—Standard&Poor's Ratings Services said today that it has placed on CreditWatch with negative implications its credit ratings on the class C, D, E, and F notes in the German residential mortgage-backed securities (RMBS) transactions E-MAC DE 2005-I B.V. and E-MAC DE 2006-I B.V. The ratings on the other classes of notes in these transactions are unaffected (see list below). The E-MAC DE transactions are structured as true-sale RMBS. The collateral comprises mortgage loan pools originated by GMAC-RFC Bank GmbH, which are secured by residential properties in Germany. G-MAC no longer conducts its primary business, e.g., loan origination in Germany. Today's CreditWatch placement follows the poor pool performance for both transactions in terms
Issuer:E-MAC DE 2005-I B.V.
Sector:Structured Finance, Residential MBS
Country:Netherlands
Region:Europe, Middle East, Africa
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S&P Credit Research

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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