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Article: S&P Lowers Ratings on 1,413 U.S. RMBS Classes Backed by Subprime Mortgage Loans from the 4Q 2005 - 4Q 2006.
- Article from:
- PR Newswire
- Article date:
- October 19, 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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1.1% of Downgrades Impact 'AAA' Rated Securities
NEW YORK, Oct. 19 /PRNewswire/ -- Standard & Poor's Ratings Services announced today that it has downgraded 1,413 of U.S. residential mortgage- backed securities (RMBS) backed by first-lien subprime mortgage loans that were issued from the beginning of the fourth quarter of 2005 through the fourth quarter of 2006. These downgraded securities had an original par value of $22.02 billion, which represents 4% of the $554.4 billion of U.S. RMBS backed by first-lien subprime mortgage loans rated by S&P during this period. These actions, combined with downgrades previously announced by S&P, impact a total of 1,671 ...