IM Pastor 4 Spanish RMBS Ratings Affirmed Following Criteria Revision

We have reviewed IM Pastor 4, Fondo de Titulizacion de Activos following the expansion of the global RMBS criteria's scope to include Spain, among other countries. We have affirmed our rating on the class A, B, C, and D notes. IM Pastor 4 is a Spanish RMBS transaction that securitizes a pool of prime residential mortgage loans. It closed in June 2006. PARIS (S&P Global Ratings) May 27, 2021--S&P Global Ratings today affirmed its 'B- (sf)' credit rating on IM PASTOR 4, Fondo de Titulizacion de Activos' class A notes, its 'CCC- (sf)' ratings on the class B and C notes, and its 'D (sf)' rating on the class D notes. Today's affirmations follow the implementation of our revised criteria

...- We have reviewed IM Pastor 4, Fondo de Titulizacion de Activos following the expansion of the global RMBS criteria's scope to include Spain, among other countries. - We have affirmed our rating on the class A, B, C, and D notes. - IM Pastor 4 is a Spanish RMBS transaction that securitizes a pool of prime residential mortgage loans. It closed in June 2006. PARIS (S&P Global Ratings) May 27, 2021--S&P Global Ratings today affirmed its 'B- (sf)' credit rating on IM PASTOR 4, Fondo de Titulizacion de Activos' class A notes, its '###- (sf)' ratings on the class B and C notes, and its 'D (sf)' rating on the class D notes. Today's affirmations follow the implementation of our revised criteria and assumptions for assessing pools of Spanish residential loans (see "Related Criteria"). They also reflect our full analysis of the most recent information that we have received and the transaction's current structural features. Upon revising our Spanish RMBS criteria, we placed our rating on the class...

Ratings Action