DBRS Takes Rating Actions on U.S. RMBS Securities

DBRS, Inc. (DBRS) has today reviewed 663 classes from 41 U.S. residential mortgage-backed security (RMBS) transactions. Of the 663 classes reviewed, 51 classes were upgraded, 608 classes were confirmed, one was downgraded and three were discontinued due to full principal repayment to the bondholders.

The rating upgrades reflect positive performance trends and that these classes have experienced increases in credit support sufficient to withstand stresses at their new rating level. For transactions where the rating has been confirmed, current asset performance and credit support levels have been consistent with the current rating. The downgrade reflects a combination of the continued erosion of credit support in this transaction as a result of negative trends in delinquency and projected loss activity.

These U.S. RMBS transactions consist of pools backed by Prime, Alt-A, Seasoned-Reperforming and Subprime collateral.

Notes:
The applicable methodologies are U.S. RMBS Surveillance Methodology and RMBS Insight 1.2: U.S. Residential Mortgage-Backed Securities Model and Rating Methodology, which can be found on our website under Methodologies.

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