RMBS trio get top ratings — but only one may surface

02 Oct 2011

Credit rating agencies have assigned top ratings to three prime RMBS deals from the UK, Belgium and Spain. Only one deal is likely to make the public market, though, with bankers suggesting that the Belgian and Spanish deals were likely to be destined for ECB emergency funding purposes.

The UK deal, from Clydesdale Bank, could surface at some point in the future, they said, in spite of the fact that the issuer has a covered bond that it is also marketing and its senior paper was recently downgraded. Fitch on Monday assigned a provisional triple A ...

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