DBRS Takes Rating Actions on U.S. RMBS Securities

DBRS has today taken rating actions on 437 classes from 35 U.S. residential mortgage-backed security (RMBS) transactions. Of the 437 ratings reviewed, DBRS confirmed 425 classes, upgraded six classes and discontinued six others due to repayment of principal balances to noteholders.

The classes 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 classes where ratings have been confirmed, current asset performance and credit support levels have been consistent with the current ratings.

The transactions affected by the rating actions consist of U.S. RMBS, net interest margin (NIM) and resecuritization of real estate mortgage investment conduit (ReREMIC) transactions. A majority of the pools backing these transactions consist of primarily prime, subprime and Alt-A residential loans.

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

These ratings are endorsed by DBRS Ratings Limited for use in the European Union.

For more information on this credit or on this industry, visit www.dbrs.com or contact us at info@dbrs.com.