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Fitch Affirms 11 & Downgrades 1 Class from 2 Nomura Transactions
Business Wire, March 28, 2008
NEW YORK -- Fitch Ratings has taken rating actions on the following Nomura Asset Acceptance Corp. mortgage pass-through securities:
Series 2003-A2
--Class A affirmed at 'AAA';
--Class M-1 affirmed at 'AAA';
--Class M-2 affirmed at 'AAA';
--Class B-1 affirmed at 'AAA';
--Class B-2 affirmed at 'AA';
--Class B-3 affirmed at 'AA-';
--Class B-4 affirmed at 'A';
--Class B-5 affirmed at 'BBB';
--Class B-6 downgraded to 'BB' from 'BB+'.
Series 2003-A3
--Class A affirmed at 'AAA';
--Class M-1 affirmed at 'AA+';
--Class M-2 affirmed at 'A+';
--Class B-1 affirmed at 'BBB+'.
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The affirmations, affecting approximately $87 million of outstanding certificates, reflect a stable relationship between credit enhancement (CE) and future loss expectations. The negative rating actions, affecting approximately $1.5 million of outstanding certificates, reflect deterioration in the relationship between future loss expectations and credit support levels.
Fitch will continue to closely monitor the above transactions. Further information regarding current delinquency, loss, and credit enhancement statistics is available on the Fitch Ratings web site at www.fitchratings.com.
Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site.
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