All Ratings Affirmed In Spanish RMBS Transaction Santander Hipotecario 2 Following Application Of Updated Criteria

OVERVIEW We have reviewed Santander Hipotecario 2 by conducting our credit and cash flow analysis under our updated Spanish RMBS criteria and our updated criteria for rating single-jurisdiction securitizations above the sovereign foreign currency rating. Following our review, we have affirmed all of our ratings in the transaction. Santander Hipotecario 2 is a Spanish RMBS transaction, which closed in July 2006 and securitizes first-ranking mortgage loans. MADRID (Standard&Poor's) Dec. 23, 2014--Standard&Poor's Ratings Services today affirmed its credit ratings on Fondo de Titulización de Activos Santander Hipotecario 2's class A, B, C, D, E, and F notes (see list below). Upon publishing our updated criteria for Spanish residential mortgage-backed securities (RMBS criteria) and our updated criteria for

...OVERVIEW + We have reviewed Santander Hipotecario 2 by conducting our credit and cash flow analysis under our updated Spanish RMBS criteria and our updated criteria for rating single-jurisdiction securitizations above the sovereign foreign currency rating. + Following our review, we have affirmed all of our ratings in the transaction. + Santander Hipotecario 2 is a Spanish RMBS transaction, which closed in July 2006 and securitizes first-ranking mortgage loans. MADRID (Standard & Poor's) Dec. 23, 2014--Standard & Poor's Ratings Services today affirmed its credit ratings on Fondo de Titulizaci=n de Activos Santander Hipotecario 2's class A, B, C, D, E, and F notes (see list below). Upon publishing our updated criteria for Spanish residential mortgage-backed securities (RMBS criteria) and our updated criteria for rating single-jurisdiction securitizations above the sovereign foreign currency rating (RAS criteria), we placed those ratings that could potentially be affected "under criteria...

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