NEW YORK--(BUSINESS WIRE)--Fitch Ratings corrects the ratings for classes A-8 and A-9 in the Mellon Residential Funding Corp. 1998-A transaction, previously downgraded on Dec. 5, 2012. Fitch affirms both classes at 'AAAsf' with a Negative Outlook. The revised ratings reflect the financial guaranty provided by Freddie Mac. This is an amendment to the Dec. 5, 2012 rating actions.
On Dec. 5, 2012, Fitch Ratings resolved the Rating Watch status of various classes in the Prime, Alt-A, subprime and Re-REMIC RMBS sectors. Further details on the Dec. 5, 2012 rating actions can be found in Fitch's press release, 'Fitch Resolves Watch Status on Various U.S. RMBS Classes' and a list of classes can be found in the following report, 'U.S. RMBS Rating Actions for Dec. 5, 2012', both are available at 'www.fitchratings.com'.
These actions were reviewed by a committee of Fitch analysts.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria & Related Research:
--'U.S. Prime Pre-2005 RMBS: Not What It Used to Be' (Sep. 6, 2012);
--'U.S. RMBS Loan Loss Model Criteria' (Aug. 10, 2012);
--'U.S. RMBS Surveillance Criteria' (Oct. 11, 2012);
--'Global Structured Finance Rating Criteria' (June 6, 2012);
--'Structured Finance Recovery Estimates for Distressed Securities' (Nov. 18, 2011);
--'Counterparty Criteria for Structured Finance Transactions' (May 30, 2012);
--'Criteria for Interest Rate Stresses in Structured Finance Transactions' (March 20, 2012);
--'Criteria for Rating Caps in Global Structured Finance Transactions' (Aug. 2, 2012).