Ludgate Funding Series 2007-FF1 U.K. RMBS Ratings Raised On Four Classes; Five Ratings Affirmed

Following our review of Ludgate Funding's series 2007-FF1 using our relevant criteria, we have raised our ratings on the class Bb, Cb, Da, and Db notes and affirmed our ratings on the class A2a, A2b, Ma, Mb, and E notes. Ludgate Funding series 2007-FF1 is a U.K. RMBS transaction, which closed in June 2007 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 raised its credit ratings on the class Bb, Cb, Da, and Db notes and affirmed its ratings on the class A2a, A2b, Ma, Mb, and E notes issued by Ludgate Funding PLC series 2007-FF1 (see list above). In this transaction, our ratings address timely

...- Following our review of Ludgate Funding's series 2007-FF1 using our relevant criteria, we have raised our ratings on the class ##, Cb, Da, and Db notes and affirmed our ratings on the class A2a, A2b, Ma, Mb, and E notes. - Ludgate Funding series 2007-FF1 is a U.K. RMBS transaction, which closed in June 2007 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 raised its credit ratings on the class ##, Cb, Da, and Db notes and affirmed its ratings on the class A2a, A2b, Ma, Mb, and E notes issued by Ludgate Funding PLC series 2007-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 rating actions follow the application of our revised criteria and our full analysis of the most recent transaction information that we have received, and they...

Ratings Action