Ratings Lowered On Italian RMBS Transaction Sestante Finance Series 3's Class B And C Notes; Class A Rating Affirmed

OVERVIEW We have reviewed Sestante Finance series 3's performance, by conducting our credit and cash flow analysis and applying our relevant criteria. Following our review, we have lowered our ratings on the class B, C1, and C2 notes. At the same, we have affirmed our 'A (sf)' rating on the class A notes. Sestante Finance series 3 is an Italian RMBS transaction, which closed in December 2005. It securitizes a pool of residential mortgage loans originated by Meliorbanca. MADRID (S&P Global Ratings) Jan. 24, 2017--S&P Global Ratings today lowered and removed from CreditWatch negative its credit ratings on Sestante Finance S.r.l. series 3's class B, C1, and C2 notes. At the same time, we have affirmed our 'A (sf)' rating

...OVERVIEW + We have reviewed Sestante Finance series 3's performance, by conducting our credit and cash flow analysis and applying our relevant criteria. + Following our review, we have lowered our ratings on the class B, C1, and C2 notes. + At the same, we have affirmed our 'A (sf)' rating on the class A notes. + Sestante Finance series 3 is an Italian RMBS transaction, which closed in December 2005. It securitizes a pool of residential mortgage loans originated by Meliorbanca. MADRID (S&P Global Ratings) Jan. 24, 2017--S&P Global Ratings today lowered and removed from CreditWatch negative its credit ratings on Sestante Finance S.r.l. series 3's class B, C1, and C2 notes. At the same time, we have affirmed our 'A (sf)' rating on the class A notes (see list below). Today's rating actions resolve our Oct. 25, 2016 CreditWatch placements of our ratings on the class B, C1, and C2 notes and follow our credit and cash flow analysis of the most recent transaction information as of the January...

Ratings Action