30.05.2013 17:31:00
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Moody's downgrades seven notes, confirms one note and upgrades one note in four Spanish RMBS transactions
London, 30 May 2013 -- Moody's Investors Service has today downgraded the ratings of seven notes, confirmed the rating of one note and upgraded the rating of one note in four Spanish residential mortgage-backed securities (RMBS) transactions: Hipotebansa X, Hipotebansa XI, Madrid RMBS III and Madrid RMBS IV. Insufficiency of credit enhancement to address sovereign risk and revision of key collateral assumptions have prompted today's downgrade action.