Rating Lowered To 'D (sf)' On AyT CajaGranada Hipotecario I's Class C Spanish RMBS Notes Due To Interest Deferral Breach

OVERVIEW Due to the increase in the level of cumulative defaults over the past year, AyT CajaGranada Hipotecario I's class C notes breached their interest deferral trigger on the June 2017 payment date. Consequently, the class D notes' interest is unpaid. We have therefore lowered to 'D (sf)' from 'CC (sf)' our rating on the class C notes. AyT CajaGranada Hipotecario I is a Spanish RMBS transaction, which closed in June 2007 and securitizes first-ranking mortgage loans. Caja de Ahorros de Granada (now Banco Mare Nostrum) originated the pool, which comprises loans granted to Spanish residents, mainly located in Andalusia. MADRID (S&P Global Ratings) Sept. 8, 2017--S&P Global Ratings today lowered to 'D (sf)' from 'CC (sf)' its credit rating

...OVERVIEW + Due to the increase in the level of cumulative defaults over the past year, AyT CajaGranada Hipotecario I's class C notes breached their interest deferral trigger on the June 2017 payment date. Consequently, the class D notes' interest is unpaid. + We have therefore lowered to 'D (sf)' from '## (sf)' our rating on the class C notes. + AyT CajaGranada Hipotecario I is a Spanish RMBS transaction, which closed in June 2007 and securitizes first-ranking mortgage loans. Caja de Ahorros de Granada (now Banco Mare Nostrum) originated the pool, which comprises loans granted to Spanish residents, mainly located in Andalusia. MADRID (S&P Global Ratings) Sept. 8, 2017--S&P Global Ratings today lowered to 'D (sf)' from '## (sf)' its credit rating on AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos' class C notes. All the other classes of notes are unaffected by today's rating action. The level of cumulative defaults over the original portfolio balance increased to 7.13% on...

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