Fitch Ratings Affirms 12 SASCO RMBS Ratings from Series 2002-22H.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. affirms 12 classes of Structured Asset Securities Corp. residential mortgage-backed certificates, as follows: Structured Asset Securities Corp. mortgage pass-through certificates Pass-Through Certificates (PTCs) are instruments that evidence the ownership of two or more Equipment Trust Certificates. In other words, Equipment Trust Certificates may be bundled into a pass-through structure as a means of diversifying the asset pool and/or increasing the size , series 2002-22H group 1: -- Class 1A affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. at 'AAA'; -- Class B1-I affirmed at 'AA'; -- Class B2-I affirmed at 'A'; -- Class B3-I affirmed at 'BBB'; -- Class B4-I affirmed at 'BB'; -- Class B5-I affirmed at 'B' and removed from Rating Watch Negative. Structured Asset Securities Corp. mortgage pass-through certificates, series 2002-22H group 2: -- Class 2A affirmed at 'AAA'; -- Class B1-II affirmed at 'AA'; -- Class B2-II affirmed at 'A'; -- Class B3-II affirmed at 'BBB'; -- Class B4-II affirmed at 'BB'; -- Class B5-II affirmed at 'B' and removed from Rating Watch Negative. The affirmations reflect credit enhancement Credit Enhancement A method whereby a company attempts to improve its debt or credit worthiness. Notes: Credit enhancements take many different forms. An example of a credit enhancement would be conversion rights added on to a debt instrument in order to lower the issuing consistent with future loss expectations. Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at 'www.fitchratings.com'. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion