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By clicking “I AGREE”, you indicate that you understand and intend these terms and conditions to be the legal equivalent of a signed, written contract and equally binding, and that you accept such terms and conditions as a condition of viewing any and all Moody’s information that becomes accessible to you (the “Information”). References herein to “Moody’s” include Moody’s Corporation. and each of its subsidiaries and affiliates..

 

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Rating Action:

Moody's withdraws $10 million of RMBS resecuritization bonds issued from 1992 to 1999

10 Mar 2011

New York, March 10, 2011 -- Moody's Investors Service has withdrawn the ratings of 52 tranches from 11 RMBS resecuritization transactions issued between 1992 and 1999.

RATINGS RATIONALE

The resecuritization tranches are backed by underlying certificates that are backed by RMBS pools with less than 40 loans and pool factors less than 5%.

Moody's Investors Service published credit rating methodologies allow for the withdrawal of a credit rating if the size of the pool outstanding at the time of the withdrawal has fallen below a specified level. Moody's current RMBS surveillance methodologies apply to pools with at least 40 loans and a pool factor of greater than 5%. As a result, Moody's may withdraw its rating when the pool factor drops below 5% and the number of loans in the pool declines to 40 loans or lower unless specific structural features allow for monitoring of the transaction (such as a credit enhancement floor). Please refer to Moody's Investors Service Withdrawal Policy, which can be found on our website, www.moodys.com.

Complete rating actions are as follows:

Issuer: BDC Mortgage Trust, Series 1998-A

1-A, Withdrawn (sf); previously on Aug 20, 2009 Downgraded to Caa2 (sf)

1-B, Withdrawn (sf); previously on Aug 20, 2009 Downgraded to Ca (sf)

1-C, Withdrawn (sf); previously on Aug 20, 2009 Downgraded to C (sf)

Issuer: CSFB Mortgage Securities Corp 1996-1R

3-A, Withdrawn (sf); previously on Oct 4, 1996 Assigned Aaa (sf)

3-M1, Withdrawn (sf); previously on Oct 4, 1996 Assigned Baa3 (sf)

3-B1, Withdrawn (sf); previously on Oct 4, 1996 Assigned B3 (sf)

Issuer: Credit Suisse First Boston Mortgage Securities Corp. Series 1997-1R

1-M1, Withdrawn (sf); previously on May 18, 2005 Upgraded to Aaa (sf)

1-M2, Withdrawn (sf); previously on May 18, 2005 Upgraded to Aaa (sf)

1-M3, Withdrawn (sf); previously on May 18, 2005 Upgraded to Aa3 (sf)

1-M4, Withdrawn (sf); previously on Aug 21, 1997 Assigned Baa2 (sf)

1-M5, Withdrawn (sf); previously on Aug 21, 1997 Assigned Baa3 (sf)

1-B1, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to Caa2 (sf)

1-B2, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

1-B3, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

1-B4, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

Issuer: GS Mortgage Securities Corp., Series 1999-1

II-B-2, Withdrawn (sf); previously on Mar 26, 1999 Assigned A2 (sf)

II-B-3, Withdrawn (sf); previously on Mar 26, 1999 Assigned Baa2 (sf)

II-B-4, Withdrawn (sf); previously on Sep 25, 2009 Downgraded to Caa1 (sf)

II-B-5, Withdrawn (sf); previously on Sep 25, 2009 Downgraded to C (sf)

Issuer: Prudential Home Mtg Co 1994-A

B01-4, Withdrawn (sf); previously on Jul 24, 1997 Upgraded to Aaa (sf)

B01-R, Withdrawn (sf); previously on Jul 24, 1997 Upgraded to Aaa (sf)

Issuer: Prudential Home Mtg Co 1992-C

B1-1, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B1-2, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B1-R, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B1-LR, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B2, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to Baa3 (sf)

B3, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to Caa2 (sf)

B4, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to Ca (sf)

B5, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

Issuer: Prudential Home Mtg Co 1992-A

B1-4, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B1-5, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B1-R, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B1-LR, Withdrawn (sf); previously on Nov 24, 1992 Assigned Aaa (sf)

B2-4, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to Caa2 (sf)

B3-1, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

B3-2, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

B3-3, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

B3-4, Withdrawn (sf); previously on Aug 11, 2009 Downgraded to C (sf)

Issuer: Resecuritization Mortgage Trust, Series 1998-B

A, Withdrawn (sf); previously on Oct 15, 1998 Assigned Aaa (sf)

X, Withdrawn (sf); previously on Oct 15, 1998 Assigned Aaa (sf)

M-1, Withdrawn (sf); previously on Oct 15, 1998 Assigned Aa2 (sf)

M-2, Withdrawn (sf); previously on Oct 15, 1998 Assigned A2 (sf)

M-3, Withdrawn (sf); previously on Oct 15, 1998 Assigned Baa2 (sf)

B-1, Withdrawn (sf); previously on Oct 15, 1998 Assigned Ba2 (sf)

B-2, Withdrawn (sf); previously on Oct 15, 1998 Assigned B2 (sf)

Issuer: Ryland Mtg Sec 1993-A1

A, Withdrawn (sf); previously on Jul 22, 2009 Downgraded to B3 (sf)

Financial Guarantor: MBIA Insurance Corporation (Downgraded to B3, Outlook Negative on Jun 25, 2009)

R, Withdrawn (sf); previously on Jul 22, 2009 Downgraded to B3 (sf)

Financial Guarantor: MBIA Insurance Corporation (Downgraded to B3, Outlook Negative on Jun 25, 2009)

Issuer: Ryland Mtg Sec 1993-06A

A-1, Withdrawn (sf); previously on Sep 29, 2009 Downgraded to A3 (sf)

B-1, Withdrawn (sf); previously on Sep 29, 2009 Downgraded to Caa3 (sf)

Issuer: Structured Mortgage Trust 1997-1

A, Withdrawn (sf); previously on Dec 29, 2009 Baa3 Placed Under Review for Possible Downgrade

B, Withdrawn (sf); previously on Dec 29, 2009 Downgraded to Ca (sf)

C, Withdrawn (sf); previously on Dec 29, 2009 Downgraded to C (sf)

A list of these actions including CUSIP identifiers may be found at:

Excel: http://v3.moodys.com/page/viewresearchdoc.aspx?docid=PBS_SF212074

For more information please see www.moodys.com.

REGULATORY DISCLOSURES

Moody's adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody's considers to be reliable including, when appropriate, independent third-party sources. However, Moody's is not an auditor and cannot in every instance independently verify or validate information received in the rating process.

Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history.

The date on which some Credit Ratings were first released goes back to a time before Moody's Investors Service's Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody's Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery.

New York
Jayesh Joseph
Associate Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

New York
Deepika Kothari
Vice President - Senior Analyst
Structured Finance Group
Moody's Investors Service
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's Investors Service
250 Greenwich Street
New York, NY 10007
U.S.A.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moody's withdraws $10 million of RMBS resecuritization bonds issued from 1992 to 1999
No Related Data.
© 2022 Moody’s Corporation, Moody’s Investors Service, Inc., Moody’s Analytics, Inc. and/or their licensors and affiliates (collectively, “MOODY’S”). All rights reserved.

CREDIT RATINGS ISSUED BY MOODY'S CREDIT RATINGS AFFILIATES ARE THEIR CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND MATERIALS, PRODUCTS, SERVICES AND INFORMATION PUBLISHED BY MOODY’S (COLLECTIVELY, “PUBLICATIONS”) MAY INCLUDE SUCH CURRENT OPINIONS. MOODY’S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT OR IMPAIRMENT. SEE APPLICABLE MOODY’S RATING SYMBOLS AND DEFINITIONS PUBLICATION FOR INFORMATION ON THE TYPES OF CONTRACTUAL FINANCIAL OBLIGATIONS ADDRESSED BY MOODY’S CREDIT RATINGS. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS, NON-CREDIT ASSESSMENTS (“ASSESSMENTS”), AND OTHER OPINIONS INCLUDED IN MOODY’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY’S PUBLICATIONS MAY ALSO INCLUDE QUANTITATIVE MODEL-BASED ESTIMATES OF CREDIT RISK AND RELATED OPINIONS OR COMMENTARY PUBLISHED BY MOODY’S ANALYTICS, INC. AND/OR ITS AFFILIATES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL, OR HOLD PARTICULAR SECURITIES. MOODY’S CREDIT RATINGS, ASSESSMENTS, OTHER OPINIONS AND PUBLICATIONS DO NOT COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. MOODY’S ISSUES ITS CREDIT RATINGS, ASSESSMENTS AND OTHER OPINIONS AND PUBLISHES ITS PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL, WITH DUE CARE, MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING, OR SALE.

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MJKK or MSFJ (as applicable) hereby disclose that most issuers of debt securities (including corporate and municipal bonds, debentures, notes and commercial paper) and preferred stock rated by MJKK or MSFJ (as applicable) have, prior to assignment of any credit rating, agreed to pay to MJKK or MSFJ (as applicable) for credit ratings opinions and services rendered by it fees ranging from JPY100,000 to approximately JPY550,000,000.

MJKK and MSFJ also maintain policies and procedures to address Japanese regulatory requirements.

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