...- Following our review of Ludgate Funding's series 2006-FF1, series 2007-FF1, and series 2008-W1 under our applicable criteria, we raised our ratings on nine classes of notes and affirmed our ratings on all other classes. - All three Ludgate Funding series are U.K. RMBS transaction that securitize pools of nonconforming loans secured on first-ranking U.K. mortgages. LONDON (S&P Global Ratings) May 20, 2022--S&P Global Ratings today raised its credit ratings on Ludgate Funding PLC's series 2006-FF1 class C, D, and E notes, series 2007-FF1 class Cb, Da, Db, and E notes, and series 2008-W1 class Cb and D notes. At the same time, we affirmed our ratings on the series 2006-FF1 class A2, A2b, Ba, and ## notes, on the series 2007-FF1 class A2a, A2b, Ma, Mb, and ## notes, and the series 2008-W1 class A1, A2b, ##, and E notes (see list above). In these transactions, our ratings address timely receipt of interest and ultimate repayment of principal for all classes of notes. The notes are amortizing...
