Fitch Withdraws RESI & RESIX 2007-C Ratings.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. has withdrawn the ratings on RESI RESI Race and Ethnic Studies Institute RESI Richardson Engineering Services, Inc Finance Limited Partnership, series 2007-C and RESIX Finance Limited credit-linked notes, series 2007-C. The ratings were withdrawn following execution of the Supplemental Indenture and Omnibus Termination Agreement relating to Real Estate Synthetic Investment Notes, series 2007-C dated Aug. 17, 2009. As a result of this agreement, the Outstanding Notes were submitted to the Trustee for cancellation. Fitch withdraws its ratings for the following classes of RESI Finance Limited Partnership, series 2007-C: --Class A1; --Class A2; --Class A3; --Class A4; --Class A5; --Class B-1; --Class B-2; --Class B-3; --Class B-4; --Class B-5; --Class B-6; --Class B-7; --Class B-8; --Class B-9; --Class B-10; --Class B-11; --Class B-12. The RESIX transactions are credit-linked structures whereby the note holders obtain credit exposure to underlying notes and certificates via a total return swap Total Return Swap Any swap in which the non-floating rate side is based on the total return of an equity or fixed income instrument with a life longer than the swap. Notes: Total return swaps are most common in equity or physical commodity markets. with Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , National Association (BOANA). The underlying notes and certificates for the RESIX transactions were issued as part of Real Estate Synthetic Investments (RESI) securitizations. RESI transactions are synthetic balance sheet collateralized debt obligations that reference a portfolio of primarily jumbo, 'A' quality residential mortgage loans originated or acquired by BOANA. The credit-risk of each RESIX class is directly linked to a single RESI class and the ratings of the linked notes will be the same. Due to the linkage between the RESI and RESIX transactions, Fitch withdraws its ratings for the following RESIX Finance Limited credit-linked notes, series 2007-C: --Class B-7; --Class B-8; --Class B-9; --Class B-10; --Class B-11; --Class B-12. Additional information is available at 'www.fitchratings.com'. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP HTTP in full HyperText Transfer Protocol Standard application-level protocol used for exchanging files on the World Wide Web. HTTP runs on top of the TCP/IP protocol. ://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, 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 WEBSITE '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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