Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4 - S&P Global Ratings’ Credit Research

Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4

Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4 - S&P Global Ratings’ Credit Research
Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4
Published Oct 10, 2011
1602 words — Published Oct 10, 2011
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Abstract:

OVERVIEW Since our last review in July, IM PASTOR 4 has continued to show a weakening performance. We have increased our default and loss assumptions on this transaction. Due to the deterioration of the credit quality of the portfolio backing this transaction, the levels of credit enhancement the underlying collateral provides to the rated classes of notes have decreased and are now negative for some of the rated classes of notes. We have therefore lowered and removed from CreditWatch negative our ratings on all classes of notes. IM PASTOR 4, which closed in June 2006, is a securitization transaction of a pool of Spanish residential mortgages originated by Banco Pastor. MADRID (Standard&Poor's) Oct. 10, 2011--Standard&Poor's Ratings

  
Brief Excerpt:

RESEARCH Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4 Publication date: 10-Oct-2011 Surveillance Credit Analyst: Soledad Martinez-Tercero, Madrid (34) 91-3896-954; soledad_martinez-tercero@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
IM PASTOR 4, Fondo de Titulizacion de Activos
Sector
Structured Finance
Country
Spain
Region
Europe, Middle East, Africa
Format:
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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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MLA:
S&P Global Ratings’ Credit Research. "Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4" Oct 10, 2011. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Lowered-On-All-Classes-In-Spanish-RMBS-Transaction-IM-PASTOR-4-897657>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings Lowered On All Classes In Spanish RMBS Transaction IM PASTOR 4 Oct 10, 2011. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Lowered-On-All-Classes-In-Spanish-RMBS-Transaction-IM-PASTOR-4-897657>
  
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