RAM Ratings has reaffirmed the AAA rating (with a stable outlook) of Cagamas MBS Bhd’s RM2.41 billion residential mortgage-backed securities (2007/2027), known as CMBS 2007-2.
The reaffirmation is premised on the available overcollateralisation (OC) ratio of 34.38 per cent as at Feb 28, 2011, RAM Ratings said in a statement.
It is also premised on the overall performance of the collateral pool, and the structural support afforded by the transaction structure.
The stable outlook reflects RAM Ratings’ belief that the pattern of defaults and losses as well as prepayments on the government staff home loans (GSHLs) will continue to fall within its expectations. -- Bernama
The reaffirmation is premised on the available overcollateralisation (OC) ratio of 34.38 per cent as at Feb 28, 2011, RAM Ratings said in a statement.
It is also premised on the overall performance of the collateral pool, and the structural support afforded by the transaction structure.
The stable outlook reflects RAM Ratings’ belief that the pattern of defaults and losses as well as prepayments on the government staff home loans (GSHLs) will continue to fall within its expectations. -- Bernama
