NEW YORK--(BUSINESS WIRE)--Fitch Ratings has affirmed and subsequently withdrawn 45 U.S. RMBS classes that previously were rated 'Dsf'. Three classes that had a rating of 'Csf' have been downgraded to 'Dsf' and subsequently withdrawn.
KEY RATING DRIVERS
All of the affected classes had incurred principal write-downs in the past and have no principal balance remaining.
All of the withdrawn classes are from transactions with no remaining collateral balance.
A spreadsheet detailing Fitch's rating actions can be found at 'www.fitchratings.com' by performing a title search for 'Fitch Withdraws 48 Classes in 18 U.S. RMBS Transactions'. These actions were reviewed by a committee of Fitch analysts. The spreadsheet provides the contact information for the performance analyst.
Additional information is available at 'www.fitchratings.com'.
Applicable Criteria & Related Research:
--'Global Structured Finance Rating Criteria' (May 24, 2013);
--'Structured Finance Recovery Estimates for Distressed Securities' (Nov. 18, 2011).
Applicable Criteria and Related Research: RMBS Withdrawls 20141024
Global Structured Finance Rating Criteria
Structured Finance Recovery Estimates for Distressed Securities