...Stable Outlook Across Region: Stable Outlooks dominate European structured finance (ESF), with 86% of Fitch's rating Outlooks across the region being Stable or Positive. There has been a marked change in the balance of Outlooks for ratings from the peripheral eurozone (Greece, Ireland, Italy, Portugal and Spain); only 23% are now Negative or on Rating Watch Negative (RWN) compared to 64% a year ago. For the rest of Europe, 8% have a Negative Outlook or are on RWN, down from 14% last year. Asset Performance Outlook Stable: Fitch's asset performance outlooks are stable or stable/positive for an increasing number of ESF sub-sectors (see Appendix). Most residential mortgage markets are stable, including the Netherlands, Portugal and Spain for the first time in several years. The outlook for Irish residential assets has improved to stable/declining from declining. Assets backing ABS and structured credit (SC) are stable, except in Italian ABS and Italian and Portuguese SME CLOs. Most main commercial...
