Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Sestante Finance S.r.l.

Ratings Lowered In Sestante's Series 3 And 4 Italian RMBS Transactions; Series 2 Affirmed

Published Aug 26, 2009

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Abstract:

OVERVIEW The downgrades follow deteriorating performance metrics and our assessment of the characteristics of the residual mortgage loan portfolio. We have lowered our ratings on the class C1 and C2 notes series 3 and the class B, C1, and C2 series 4. We also affirmed all the series 2 notes. Sestante's series 2, 3, and 4 are segregated transactions backed by pools of residential mortgage loans originated in Italy by Meliorbanca. MILAN (Standard&Poor's) Aug. 26, 2009--Standard&Poor's Ratings Services today lowered and removed from CreditWatch negative its credit ratings on the class C1 and C2 notes series 3 and class B, C1, and C2 series 4 issued by Sestante Finance S.r.l. following further collateral performance deterioration. At

Report Type:

Ratings Action

Issuer

Sestante Finance S.r.l.

Sector

Structured Finance

Country

Italy

Region

Europe, Middle East, Africa

Format:

HTML

Ratings Placed On CreditWatch Negative On Sestante's Series 2 Class C1 And C2 Notes – 2010/06/18 – US$ 150.00

Class B Rating Lowered And Placed On CreditWatch Negative In Italian RMBS Deal Sestante Series 5 – 2010/11/11 – US$ 150.00

Class C1 And C2 Ratings Lowered In Italian RMBS Transaction Sestante Finance Series 2 – 2010/12/31 – US$ 150.00

Rating Lowered On Italian RMBS Deal Sestante Finance's Series 5 Class B Notes – 2011/03/09 – US$ 150.00

Rating Lowered On Italian RMBS Transaction Sestante Finance's Class A Notes Series 5; Class B Affirmed – 2011/04/12 – US$ 150.00

S&PCORRECT: Various Ratings In Sestante Finance's Series 2, 3, And 4 Placed On CreditWatch Negative – 2009/05/20 – US$ 150.00

Ratings Lowered On Sestante Finance's Class A And B Notes Series 5 – 2009/05/15 – US$ 150.00

Rating Cut On Sestante Finance's Series 4 C2 Notes; Other Series 4, Series 2, 3 Notes Affirmed – 2008/11/19 – US$ 150.00

Ratings On Sestante Finance's Series 4 C1 And C2 Notes Put On Watch Neg; Series 1–3 Affirmed – 2008/07/30 – US$ 150.00

New Issue: Sestante Finance S.r.l. – 2008/06/16 – US$ 500.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Ratings Lowered In Sestante's Series 3 And 4 Italian RMBS Transactions; Series 2 Affirmed" Aug 26, 2009. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Lowered-In-Sestante-s-Series-3-And-4-Italian-RMBS-Transactions-Series-2-Affirmed-742847>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Lowered In Sestante's Series 3 And 4 Italian RMBS Transactions; Series 2 Affirmed Aug 26, 2009. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Lowered-In-Sestante-s-Series-3-And-4-Italian-RMBS-Transactions-Series-2-Affirmed-742847>

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