Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos

Various Rating Actions Taken On 116 Tranches In 87 Spanish Securitizations Following Sovereign Downgrade

Published Oct 11, 2012

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Abstract:

OVERVIEW On Oct. 10, 2012, we lowered our long- and short-term sovereign ratings on the Kingdom of Spain to 'BBB-/Negative/A-3' from 'BBB+/Negative/A-2'. Under our nonsovereign ratings criteria, the highest rating we would assign to a structured finance transaction is six notches above the investment-grade rating on the country in which the securitized assets are located. Consequently, we have lowered our ratings on 116 tranches in 87 Spanish securitizations. MADRID (Standard&Poor's) Oct. 11, 2012--Standard&Poor's Ratings Services today took various credit rating actions on 116 tranches in 87 Spanish securitizations. Specifically, we have: Lowered our ratings on 63 tranches in 51 residential mortgage-backed securities (RMBS) transactions; Lowered our ratings on 37 tranches in 23 small and midsize enterprise

Report Type:

Ratings Action

Issuer

AyT CajaGranada Hipotecario I Fondo de Titulizacion de Activos

Sector

Structured Finance

Country

Spain

Region

Europe, Middle East, Africa

Format:

HTML

Various Rating Actions Taken In Spanish RMBS Transaction Ayt CajaGranada Hipotecario I Following Review – 2013/05/30 – US$ 150.00

Ratings Lowered In Spanish RMBS Transaction AyT CajaGranada Hipotecario I Following Application Of Updated Criteria – 2014/10/31 – US$ 150.00

Various Rating Actions Taken In Spanish RMBS Transaction AyT CajaGranada Hipotecario I Following Sovereign Upgrade – 2015/12/07 – US$ 150.00

Rating Lowered To 'D (sf)' On AyT CajaGranada Hipotecario I's Class D Spanish RMBS Notes Due To Interest Deferral Breach – 2016/01/15 – US$ 150.00

Various Rating Actions Taken On AyT CajaGranada Hipotecario I's Spanish RMBS Notes Following Review – 2017/02/24 – US$ 150.00

New Issue: AyT CajaGranada Hipotecario I Fondo de Titulización de Activos – 2007/08/29 – US$ 500.00

Preliminary Ratings Assigned To AyT CajaGranada Hipotecario I, FTA's Spanish RMBS Issuance – 2007/06/15 – US$ 150.00

More from S&P Global Ratings’ Credit Research

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. "Various Rating Actions Taken On 116 Tranches In 87 Spanish Securitizations Following Sovereign Downgrade" Oct 11, 2012. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Various-Rating-Actions-Taken-On-116-Tranches-In-87-Spanish-Securitizations-Following-Sovereign-Downgrade-1022593>

APA:	S&P Global Ratings’ Credit Research. (). Various Rating Actions Taken On 116 Tranches In 87 Spanish Securitizations Following Sovereign Downgrade Oct 11, 2012. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Various-Rating-Actions-Taken-On-116-Tranches-In-87-Spanish-Securitizations-Following-Sovereign-Downgrade-1022593>

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