Rating Affirmed On Italian RMBS Transaction Sestante Finance Series 1's Class A1 Notes

OVERVIEW We have reviewed Sestante Finance series 1's performance, by conducting our credit and cash flow analysis and applying our relevant criteria. Following our review, we have affirmed our 'A (sf)' rating on the class A1 notes. Sestante Finance series 1 is an Italian RMBS transaction, which closed in December 2003. It securitizes a pool of residential mortgage loans originated by Meliorbanca. MADRID (S&P Global Ratings) May 23, 2017--S&P Global Ratings today affirmed its 'A (sf)' credit rating on Sestante Finance S.r.l. series 1's class A1 notes. Today's affirmation follows our credit and cash flow analysis of the most recent transaction information that we have received as of the March 2017 payment date. We have applied our European residential loans

...OVERVIEW + We have reviewed Sestante Finance series 1's performance, by conducting our credit and cash flow analysis and applying our relevant criteria. + Following our review, we have affirmed our 'A (sf)' rating on the class A1 notes. + Sestante Finance series 1 is an Italian RMBS transaction, which closed in December 2003. It securitizes a pool of residential mortgage loans originated by Meliorbanca. MADRID (S&P Global Ratings) May 23, 2017--S&P Global Ratings today affirmed its 'A (sf)' credit rating on Sestante Finance S.r.l. series 1's class A1 notes. Today's affirmation follows our credit and cash flow analysis of the most recent transaction information that we have received as of the March 2017 payment date. We have applied our European residential loans criteria and our structured finance ratings above the sovereign (RAS) criteria (see "Related Criteria"). Since December 2014, available credit enhancement--considering performing collateral only--has increased to 38.76% for the...

Ratings Action