BRIEF-Moody's reviews for downgrade European RMBS transactions with exposure to downgraded issuer account banks and lack of remedial actions

Wed Nov 14, 2012 6:22pm EST

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Nov 15 (Reuters) - Moody's Investors Service has today placed on review for downgrade the ratings of Aaa (sf) and Aa (sf)-rated residential mortgage-backed securities (RMBS) that have increased counterparty risk arising from (1) indirect linkages to issuer account banks that were downgraded below Prime-1 during Q2 2012; and (2) the lack of structural protection to reduce their linkages to these downgraded banks. Today's rating announcement affects 38 tranches in 20 RMBS transactions.

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