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

Ratings Lowered On Sestante Finance's Class A And B Notes Series 5

Published May 15, 2009

832 words — Published May 15, 2009

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Abstract:

MILAN (Standard&Poor's) May 15, 2009—Standard&Poor's Ratings Services today lowered and removed from CreditWatch negative its credit ratings on the class A and B notes series 5 issued by Sestante Finance S.r.l. (see list below). These rating actions reflect our assumption that Banca Popolare dell'Emilia Romagna S.C. (A-/Negative/A-2), which acts as swap counterparty in this transaction, will not be replaced. Sestante Finance series 5 closed in June 2008 and is an Italian residential mortgage-backed securities transaction backed by a pool of mortgage loans secured over residential properties located in Italy. We placed classes A and B on CreditWatch negative on Nov. 27, 2008, following the publication of our revised methodology for 'A-2' rated derivatives counterparties (see "Related

Brief Excerpt:

RESEARCH Ratings Lowered On Sestante Finance's Class A And B Notes Series 5 Publication date: 15-May-2009 Surveillance Credit Analyst: Giorgio Frascella, Milan (39) 02-72111-251; giorgio_frascella@standardandpoors.com MILAN (Standard...

Report Type:

Ratings Action

Issuer

Sestante Finance S.r.l.

Sector

Structured Finance

Country

Italy

Region

Europe, Middle East, Africa

Format:

HTML

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 In Sestante's Series 3 And 4 Italian RMBS Transactions; Series 2 Affirmed – 2009/08/26 – US$ 150.00

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 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

Ratings Assigned To Sestante Finance S.r.l.'s Prime Italian RMBS Issuance Series 5 – 2008/06/16 – US$ 150.00

Ratings On Class B, C1, C2 Notes In Sestante Series 4 Lowered, Series 1-3 Notes Affirmed – 2007/06/04 – US$ 150.00

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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 On Sestante Finance's Class A And B Notes Series 5" May 15, 2009. Alacra Store. May 07, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Lowered-On-Sestante-Finance-s-Class-A-And-B-Notes-Series-5-722204>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Lowered On Sestante Finance's Class A And B Notes Series 5 May 15, 2009. New York, NY: Alacra Store. Retrieved May 07, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Lowered-On-Sestante-Finance-s-Class-A-And-B-Notes-Series-5-722204>

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