Fitch U.S. Subprime RMBS Rating Action Recap: Aug. 10, 2007.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 -- The following is a summary of the total rating actions taken by 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. as of Aug. 9 on U.S. subprime RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities transactions that were placed 'Under Analysis' on July July: see month. 12, 2007. The 'Under Analysis' list of 170 transactions had heavy concentrations of bonds originated in 2005-2006 (133 transactions). All rating actions, criteria criteria (krītēr´ē  ),n. and special reports on the US Subprime market are available at www.fitchratings.com/subprime. 2005 & 2006 Vintage
Vintage, in wine-making, is the process of picking grapes and creating the finished product. A vintage wine is one made from grapes that were all, or primarily, grown in a single specified year. Summary: --Transaction Reviews Completed: 127 of 133 --Affirmations: 1189 classes (outstanding balance: $104 billion); --Downgrades: 671 classes (outstanding balance: $12 billion). Ratings Distribution After Actions: --'AAA' classes: 592 (balance: $86 billion); --All investment grade classes (including 'AAA'): 1496 (balance: $111.4 billion); --Below investment grade classes: 364 (balance: $4.8 billion).
Rating > > # Classes
$Balance (Millions)
> >
'AAA' > > 592
$86,301
'AA+' > > 136
$7,006
'AA' > > 105
$4,555
'AA-' > > 88
$2,364
'A+' > > 97
$2,428
'A' > > 89
$1,947
'A-' > > 97
$1,945
'BBB+' > > 93
$1,605
'BBB' > > 96
$1,574
'BBB-' > > 103
$1,710
'BB+' > > 65
$939
'BB' > > 77
$1,085
'BB-' > > 49
$611
'B+' > > 53
$687
'B' > > 46
$581
'CCC' > > 74
$927
Additional details are available in the following research, also available at www.fitchratings.com: --'U.S. Subprime RMBS/HEL Upgrade/Downgrade Criteria' (June June: see month. 12 ,2007); --'Downgrade Criteria for Recent Vintage U.S. Subprime RMBS' (Aug. 8, 2007). All of Fitch's ratings criteria for US subprime RMBS available at www.fitchratings.com/subprime. For a list of deals currently under analysis please visit www.fitchratings.com/smartview. 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. |
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