...- Following our review of Ludgate Funding's series 2006-FF1 using our relevant criteria, we affirmed our ratings on all the classes of notes. - Ludgate Funding series 2006-FF1 is a U.K. RMBS transaction, which closed in November 2006 and securitizes a pool of nonconforming loans secured on first-ranking U.K. mortgages. LONDON (S&P Global Ratings) Nov. 8, 2019--S&P Global Ratings today affirmed its ratings on the class A2a, A2b, Ba, ##, C, D, and E notes issued by Ludgate Funding PLC series 2006-FF1 (see list above). In this transaction, our ratings address timely receipt of interest and ultimate repayment of principal for all classes of notes. The notes are currently amortizing pro rata. Today's affirmations follow the application of our revised criteria and our full analysis of the most recent transaction information that we have received, and they reflect the transaction's current structural features (see "Related Criteria"). Upon revising our criteria for assessing pools of residential...
