Fitch Ratings updated its criteria for rating Dutch RMBS transactions backed by the Nationale Hypotheek Garantie (NHG). The action could possibly cause previously rated 'AAA' paper backed by NHGs to be downgraded to 'BBB."

The ratings of RMBS notes that are backed or partially backed by NHG mortgages have been on watch negative by the rating agency since March 2010. The timeframe from then covers an extended consultation period regarding the changes to the NHG default and loss assumptions in the agency's Dutch RMBS rating criteria.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.