S&P Downgrades Thousands Of Alt-A-Backed RMBS

Standard & Poor’s has lowered the ratings of some 5,589 classes from 830 Alt-A-backed mortgage-backed securities transactions issued between 2005 and 2007. S&P, which earlier this month said it was “highly likely” it would downgraded RMBS backed by U.S. prime, subprime and Alt-A loan collateral, explained that its ...