More RMBS downgrades possible, warns Standard & Poor's
Rating agency simulations highlight that next 18 months could see ratings cuts and house prices fall
The worsening outlook for the UK economy could result in a succession of non-conforming residential mortgage-backed securities (RMBS) downgrades over the next 18 months, a report by Standard & Poor's warns.
In its scenario analysis report, UK non-conforming RMBS ratings sensitive to house prices declines, S&P looks at a variety of housing market scenarios and how these could trigger rating downgrades.
It is the first time S&P has published a simulation like this, and the report comes at a time
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