London: Fitch Ratings is maintaining four tranches of Atlantes Mortgages No.1 Plc (AM1), three tranches of Azor Mortgages No.1 (AZ1) and one tranche of Azor Mortgages No.2 (AZ2) on Rating Watch Evolving (RWE).
As such, the weighted average current loan-to-value (LTV) ratios have fallen below 50%, compared with the weighted average original LTVs of 63.7%, 63.9% and 67.1% for AM1, AZ1 and AZ2, respectively.
For example, the senior class A notes have 61.9%, 88.6% and 29.6% of CE as of the last reporting period for AM1, AZ1 and AZ2, respectively.
The reserve fund for AZ2 is now at its required amount.
AZ1 and AZ2 portfolios are highly concentrated in the Azor Region of Portugal.
Fitch has increased its assumption on quick sale adjustment to 50% from 40% and extended the expected recovery timing to six years from four years for AZ2 transaction, in the absence of loan-by-loan level default and recovery information for the mortgage portfolios.
Jesus Rivera, a quality assurance representative (QAR) from Fleet Readiness Center (FRC) Northwest, reviews maintenance history records with AZ2
Lorenzo Carter aboard Nimitz-class aircraft carrier USS Abraham Lincoln (CVN-72).
Responsible for more than 5,000 manuals and technical directives, AZ2
Tammi Nolan and her co-workers at Naval Air Station Corpus Christi, Texas, are busy people.