Fitch Affirms 1 Class from 1 UBS MASTR ABS NIM Transaction.NEW YORK -- Fitch Ratings has taken the following rating action on UBS MASTR MASTR Multiple Assets Status Report MASTR Mobiles And Stations Transistorized (General Electric radio manufactured in 1960s and 1970s) ABS (MABS MABS Monoclonal Antibodies MABS Multi-Agent Based Simulation MABS Methyl Methacrylate Acrylonitrile Butadiene Styrene MABS Marine Air Base Squadron MABS Maryland Association for Bank Security MABS Missile Alert Broadcast System MABS Major Accounts Billing System ) Net Interest Margin (NIM) notes: MASTR ABS NIM Trust, Series 2005-OPT1: --$7.3 million class A affirmed at 'AAA' (Insured by AMBAC AMBAC American Municipal Bond Assurance Corporation AMBAC Active Mass Balance Auto-Control (Gundam anime) ). Underlying Transaction: MASTR Asset Backed Securities Trust 2005-OPT1 The rating actions reflect actual pay-down performance of the NIM securities to date compared to initial projections, as well as, changes that Fitch previously made to its subprime loss forecasting assumptions for the underlying transactions. The updated assumptions better capture the deteriorating performance of pools from 2006 and late 2005 with regard to continued poor loan performance and home price weakness. Additional details are available in the following research, available at www.fitchratings.com --'U.S. Subprime RMBS/HEL Upgrade/Downgrade Criteria' (June 12, 2007); --'Downgrade Criteria for Recent Vintage U.S. Subprime RMBS' (Aug. 8, 2007) --'U.S. Rating Criteria for Net Interest Margin Securitizations: Updated' (Feb. 6, 2007). All of Fitch's ratings criteria for US subprime RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities are available at www.fitchratings.com/subprime. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion