DBRS Downgrades Currus XXI Limited

DBRS has today taken the following actions on the Classes issued by Currus XXI Limited. Currus XXI Limited is collateralized primarily by a portfolio of Spanish residential mortgage-backed securities (RMBS). The DBRS ratings address Currus XXI Limited’s ability to make timely payments of interest and full payment of principal on or before legal maturity.

The downgrade reflects the deterioration in credit quality of the underlying collateral pool since the transaction was initially assigned a DBRS credit rating on December 19, 2007.

-Senior Loan at BBB
-Subordinated Loan at B (high)

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

This is a Structured Finance rating.