By Erkan Erturk, Ph.D., director, and Tom Gillis, managing director, Standard & Poor's Ratings Services

Global structured securities experienced relatively significant rating volatility, both upward and downward, during the first three months of this year. A review of the performance suggests a mixed activity for the structured market sectors and asset types. For example, RMBS ratings demonstrated strength in their credit quality, many sub-sectors were just stable, and a limited number of ABS

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