DBRS Changes Trend to Stable on Mount Skylight Repackaging Trust

DBRS has today changed the trend on 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 (ABS). The DBRS rating of the Class A Certificates addresses the probability of breaching its attachment points as defined in the transaction documents at or prior to its maturity date.

The actions reflect (a) the deterioration in credit quality of the underlying collateral pool since the transaction was initially assigned a DBRS rating on December 24, 2008, (b) amendments to the transaction, and (c) recapitalization the Class A Certificates.

Notes:
All figures are in U.S. dollars unless otherwise noted.

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.