DBRS Confirms 2 Ratings and Withdraws 1 Rating for Claris IV Limited Series 28
Structured CreditDBRS has today confirmed the ratings on the Class I-B Swap and Class I-C Swap issued by Claris IV Limited Series 28. DBRS has withdrawn the rating on the Class I-A Swap, and confirmed the ratings on Class I-B Swap, Class I-C Swap. Claris IV Limited Series 28 is collateralized primarily by a portfolio of U.S. residential mortgage-backed securities (RMBS) and other asset-backed securities (ABS). The DBRS ratings of the Class I-B Swap Class I-C Swap address the probability of breaching their respective attachment points as defined in the transaction documents at or prior to their maturity dates.
The actions reflect (a) the deterioration in credit quality of the underlying collateral pool since the transaction was last assigned a DBRS rating on June 30, 2009, (b) amendments to the transaction as of August 11, 2010, and (c) additional subordination to the Claris IV Limited Series 28 Class I-B Swap and Class I-C Swap as of August 11, 2010. The action on the Class I-A Swap reflects the amortization in full of the amended swap notional amount.
- $0.00 Class I-A Swap, Series 28 at WR*
- $58,521,773 Class I-B Swap, Series 28 at BBB (low)
- $20,000,000 Class I-C Swap, Series 28 at BB (low)
The applicable public methodology is Rating US & European Structured Finance CDO Restructurings, which can be found on our website under Methodologies.
This is a Structured Finance rating.
Ratings
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