S&P threatens downgrade for Granite mezz
Standard & Poor’s has placed 102 tranches of Northern Rock’s Granite mortgage master trust on review for downgrade, the first such action for a UK master trust. The scale of any downgrade is unlikely to be severe, according to a source at S&P, absent unexpectedly rapid further deterioration.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ European securitization issuance database
- ✔ Daily newsletters across markets and asset classes
- ✔ 1 weekly securitization podcast