S&P Assigns Prelm Rtgs to SMHL Global Fund No. 3.Business Editors MELBOURNE--(BUSINESS WIRE)--Standard & Poor's Oct. 1, 2002--Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. said today that it has assigned preliminary ratings to prime residential mortgage-backed securities Residential mortgage-backed securities (RMBS) are a type of bond commonly issued in American security markets. They are a type of Mortgage-backed security which are backed by mortgages on residential rather than commercial real estate. (RMBS RMBS Residential Mortgage-Backed Securities RMBS Rambus, Inc. (NASDAQ stock symbol) RMBS Russian Mortgage-Backed Securities ) to be issued by SMHL SMHL Sallie Mae Home Loans SMHL Senior Mens Hockey Leagues SMHL Shaking My Head, Laughing SMHL Smoke & Mirrors Hockey League (Vancouver, British Columbia, Canada) Global Fund No. 3. This is the third global RMBS transaction launched by Members Equity Pty. Ltd. The US$1.4 billion class A senior notes have been assigned a preliminary rating of triple-'A', while the A$33.9 million subordinated notes have been assigned a preliminary rating of double-'A'. "The SMHL Global Fund No. 3 deal is the first global RMBS deal since June 2002, and brings the total global RMBS issuance for the year to the equivalent of A$12.6 billion," said Gary Tucker, director, Structured Finance Ratings. Copyright 2002, Standard & Poor's Ratings Services |
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