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

OVERVIEW Due to the increase in the level of cumulative defaults over the last year to 5.72%, AyT CajaGranada Hipotecario I's class D notes breached their interest deferral trigger, set at 5.50%, on the December 2015 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 D 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 (Standard&Poor's) Jan. 15, 2016--Standard&Poor's Ratings Services today lowered to 'D

...OVERVIEW + Due to the increase in the level of cumulative defaults over the last year to 5.72%, AyT CajaGranada Hipotecario I's class D notes breached their interest deferral trigger, set at 5.50%, on the December 2015 payment date. Consequently, the class D notes' interest is unpaid. + We have therefore lowered to 'D (sf)' from '## (sf)' our rating on the class D 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 (Standard & Poor's) Jan. 15, 2016--Standard & Poor's Ratings Services today lowered to 'D (sf)' from '## (sf)' its credit rating on AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos' class D notes. The level of cumulative defaults over the original portfolio balance increased to 5.72% on the December 2015 interest payment...

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