Various Rating Actions Taken On Shamrock Residential 2022-2 DAC Irish RMBS Notes - S&P Global Ratings’ Credit Research

Various Rating Actions Taken On Shamrock Residential 2022-2 DAC Irish RMBS Notes

Various Rating Actions Taken On Shamrock Residential 2022-2 DAC Irish RMBS Notes - S&P Global Ratings’ Credit Research
Various Rating Actions Taken On Shamrock Residential 2022-2 DAC Irish RMBS Notes
Published Sep 23, 2024
5 pages (2540 words) — Published Sep 23, 2024
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Abstract:

We reviewed Shamrock Residential 2022-2 DAC in line with the latest available data and found that arrears have increased significantly since closing. Meanwhile, the pool has seen consistent paydown in the notes, leading to increased credit enhancement. We lowered our ratings on the class F-Dfrd and G-Dfrd notes. We also raised our ratings on the class B-Dfrd notes. At the same time, we affirmed our ratings on the class A, C-Dfrd, D-Dfrd, and E-Dfrd notes. Shamrock Residential 2022-2 DAC is a static reperforming RMBS transaction that securitizes a portfolio of reperforming mortgage loans, secured over residential properties in Ireland. DUBLIN (S&P Global Ratings) Sept. 23, 2024--S&P Global Ratings today lowered its credit ratings on Shamrock Residential 2022-2 DAC's class F-Dfrd

  
Brief Excerpt:

...- We reviewed Shamrock Residential 2022-2 DAC in line with the latest available data and found that arrears have increased significantly since closing. Meanwhile, the pool has seen consistent paydown in the notes, leading to increased credit enhancement. - We lowered our ratings on the class F-Dfrd and G-Dfrd notes. We also raised our ratings on the class B-Dfrd notes. At the same time, we affirmed our ratings on the class A, C-Dfrd, D-Dfrd, and E-Dfrd notes. - Shamrock Residential 2022-2 DAC is a static reperforming RMBS transaction that securitizes a portfolio of reperforming mortgage loans, secured over residential properties in Ireland. DUBLIN (S&P Global Ratings) Sept. 23, 2024--S&P Global Ratings today lowered its credit ratings on Shamrock Residential 2022-2 DAC's class F-Dfrd notes to 'B- (sf)' from 'B (sf)' and class G-Dfrd notes to '### (sf)' from 'B- (sf)'. At the same time, we raised our ratings on the class B-Dfrd notes to '## (sf)' from '##- (sf)'. We also affirmed our '###...

  
Report Type:

Ratings Action

Issuer
Sector
Structured Finance
Country
Region
Europe, Middle East, Africa
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Various Rating Actions Taken On Shamrock Residential 2022-2 DAC Irish RMBS Notes" Sep 23, 2024. Alacra Store. May 22, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Various-Rating-Actions-Taken-On-Shamrock-Residential-2022-2-DAC-Irish-RMBS-Notes-3254567>
  
APA:
S&P Global Ratings’ Credit Research. (). Various Rating Actions Taken On Shamrock Residential 2022-2 DAC Irish RMBS Notes Sep 23, 2024. New York, NY: Alacra Store. Retrieved May 22, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Various-Rating-Actions-Taken-On-Shamrock-Residential-2022-2-DAC-Irish-RMBS-Notes-3254567>
  
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