Ratings Lowered In Spanish RMBS Transaction AyT CajaGranada Hipotecario I Following Application Of Updated Criteria

OVERVIEW We have reviewed AyT CajaGranada Hipotecario I by conducting our credit and cash flow analysis under our updated Spanish RMBS criteria and our updated criteria for rating single-jurisdiction securitizations above the sovereign foreign currency rating. Following our review, we have lowered our ratings on all classes of 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 originated the pool, which comprises loans granted to Spanish residents, mainly located in Andalucia. FRANKFURT (Standard&Poor's) Oct. 31, 2014--Standard&Poor's Ratings Services today lowered its credit ratings on AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos' class A, B, C, and D notes

...OVERVIEW + We have reviewed AyT CajaGranada Hipotecario I by conducting our credit and cash flow analysis under our updated Spanish RMBS criteria and our updated criteria for rating single-jurisdiction securitizations above the sovereign foreign currency rating. + Following our review, we have lowered our ratings on all classes of 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 originated the pool, which comprises loans granted to Spanish residents, mainly located in Andalucia. FRANKFURT (Standard & Poor's) Oct. 31, 2014--Standard & Poor's Ratings Services today lowered its credit ratings on AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos' class A, B, C, and D notes (see list below). Upon publishing our updated criteria for Spanish residential mortgage-backed securities (RMBS criteria) and our updated criteria for rating single-jurisdiction securitizations...

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