DBRS Takes Rating Actions on U.S. RMBS Securities

DBRS, Inc. has today taken rating actions on 94 classes from 8 U.S. RMBS transactions. Of the 94 ratings reviewed, 6 classes were upgraded and 88 classes were confirmed.

The transactions that have been upgraded exhibited positive performance trends that have led to increases in credit support sufficient to withstand stresses at their new rating level or are linked to the rating of corporate entities providing credit support to the tranche or transaction. For transactions where ratings have been confirmed, current asset performance and credit support levels have been consistent with the current ratings.

One transaction, Structured Asset Securities Corporation Mortgage Loan Trust 2007-BC1, which was previously placed under Review with Negative Implications (see “DBRS Places 442 Classes from 38 U.S. RMBS Transactions Under Review with Negative Implications”, published on June 6, 2013) had classes confirmed or upgraded as a result of this review.

The transactions affected by the rating actions consist of U.S. RMBS transactions. A majority of these transactions affected by the rating actions are backed primarily by Prime, Alt-A, and Subprime residential pools.

The principal methodologies applicable are U.S. RMBS Surveillance Methodology, dated January 2012 and RMBS Insight: U.S. Residential Mortgage-Backed Securities Loss Model and Rating Methodology, dated January 2012, which can be found on our website under Methodologies.