DBRS Assigns Negative Trend to Mount Skylight Repackaging Trust

DBRS has today assigned a Negative trend to the Class A Certificates issued by Mount Skylight Repackaging Trust (the Trust).

The obligation is collateralized primarily by a portfolio of U.S. residential mortgage-backed securities (RMBS), collateralized debt obligations (CDOs) and other asset-backed securities. The rating of the Class A Certificates addresses the timely payment of interest and ultimate payment of principal at the termination of the Trust.

The Negative trend reflects the deterioration in credit quality of the underlying collateral pool since the transaction was initially assigned a DBRS rating on December 24, 2008.

Notes:
The applicable methodologies are The CDO Toolbox and Rating U.S. ABS CDO Restructurings, which can be found on our website under Methodologies.

This is a Structured Finance rating.