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Article: S&P Lowers Ratings on 402 U.S. RMBS Classes Backed by Subprime Mortgage Loans from the 1Q - 3Q 2005.
- Article from:
- PR Newswire
- Article date:
- October 15, 2007
CopyrightCOPYRIGHT 2007 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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No 'AAA' ratings affected; 86% of downgrades affect securities in 'BBB' category and below
Assumptions for Release of Credit Support Revised
NEW YORK, Oct. 15 /PRNewswire/ -- Standard & Poor's Ratings Services announced today that it had downgraded 402 classes of U.S. residential mortgage-backed securities (RMBS) backed by first-lien subprime mortgage loans that were issued from the beginning of the first quarter of 2005 through the third quarter of 2005. These downgraded securities had an original par value of $4.6 billion, which represents 1.45% of the $320 billion of U.S. RMBS backed by first-lien subprime mortgage loans rated by S&P during this ...