The highest rating achievable for a Greek structured finance transaction remains 'Ba1(sf)', according to Moody's Investor Service.
The rating agency today downgraded 10 tranches of five ABS transactions, 14 tranches of eight RMBS deals and confirmed the ratings of two ABS and seven tranches of five RMBS offerings backed by Greek assets and serviced by Greek entities.
Moody's also downgraded to 'Ba1(sf)' from 'Baa1(sf)' the senior note ratings of two Greek ABS transactions serviced by Cypriot entities. The rating agency maintained on review for downgrade its rating on one ABS and one CLO transaction.
Moody's said that the ratings won't be impacted by an orderly restructuring of Greek government.
