spanish steps

Minor deterioration

Category: RMBS


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Spanish payment holidays buck the trend

The end of payment holidays for Spanish mortgages could lead to a minor deterioration in the collateral performance of Spanish RMBS. However, an impact on credit ratings is not expected.

“The collateral performance has experienced a very minor deterioration and the impact on credit ratings is unlikely. Once payment holidays schemes have ended, no ratings impact should happen on those transactions,” observes Isabel Plaza Escribano, director, structured finance at S&P.

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