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Class B Rating Lowered And Placed On CreditWatch Negative In Italian RMBS Deal Sestante Series 5

Published Nov 11, 2010

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About This Report

Abstract:

OVERVIEW Cumulative defaults in Sestante series 5's mortgage collateral pool have risen sharply since closing. As a result, we have lowered and placed on CreditWatch negative our rating on the class B notes. We have also affirmed our rating on the class A notes. Sestante series 5 is an RMBS transaction that securitizes a pool of residential mortgage loans originated in Italy by Meliorbanca. MILAN (Standard&Poor's) Nov. 11, 2010--Standard&Poor's Ratings Services today lowered and placed on CreditWatch negative its credit rating on Sestante Finance S.r.l.'s class B notes series 5. At the same time, we affirmed our rating on the class A notes (see list below). These rating actions follow our review of this transaction in

Report Type:

Ratings Action

Issuer

Sestante Finance S.r.l.

Sector

Structured Finance

Country

Italy

Region

Europe, Middle East, Africa

Format:

HTML

Class C1 And C2 Ratings Lowered In Italian RMBS Transaction Sestante Finance Series 2 – 2010/12/31 – US$ 150.00

Rating Lowered On Italian RMBS Deal Sestante Finance's Series 5 Class B Notes – 2011/03/09 – US$ 150.00

Rating Lowered On Italian RMBS Transaction Sestante Finance's Class A Notes Series 5; Class B Affirmed – 2011/04/12 – US$ 150.00

Ratings Lowered On Italian RMBS Sestante Finance's Series 3 And 4 Following Performance Deterioration – 2011/06/09 – US$ 150.00

All Ratings Affirmed On Sestante Finance's Series 1, 2, 3, And 4 Italian RMBS Notes – 2011/12/20 – US$ 150.00

Ratings Placed On CreditWatch Negative On Sestante's Series 2 Class C1 And C2 Notes – 2010/06/18 – US$ 150.00

Ratings Lowered In Sestante's Series 3 And 4 Italian RMBS Transactions; Series 2 Affirmed – 2009/08/26 – US$ 150.00

S&PCORRECT: Various Ratings In Sestante Finance's Series 2, 3, And 4 Placed On CreditWatch Negative – 2009/05/20 – US$ 150.00

Ratings Lowered On Sestante Finance's Class A And B Notes Series 5 – 2009/05/15 – US$ 150.00

Rating Cut On Sestante Finance's Series 4 C2 Notes; Other Series 4, Series 2, 3 Notes Affirmed – 2008/11/19 – US$ 150.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Class B Rating Lowered And Placed On CreditWatch Negative In Italian RMBS Deal Sestante Series 5" Nov 11, 2010. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Class-B-Rating-Lowered-And-Placed-On-CreditWatch-Negative-In-Italian-RMBS-Deal-Sestante-Series-5-831024>

APA:	S&P Global Ratings’ Credit Research. (). Class B Rating Lowered And Placed On CreditWatch Negative In Italian RMBS Deal Sestante Series 5 Nov 11, 2010. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Class-B-Rating-Lowered-And-Placed-On-CreditWatch-Negative-In-Italian-RMBS-Deal-Sestante-Series-5-831024>

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