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Portuguese RMBS Stable In Q1

Performance of Portuguese residential mortgage-backed securities was stable in the first quarter, according to Moody’s Investors Service.

Performance of Portuguese residential mortgage-backed securities was stable in the first quarter, according to Moody’s Investors Service. Moody’s said that most Portuguese RMBS transactions benefited from a provisioning mechanism whereby “excess spread is captured to provide for future losses on highly delinquent loans.” The credit rating agency noted, however, that despite stable performance in the first quarter, its outlook for Portuguese RMBS collateral is negative as a result of the country’s double-dip recession.

Click here to read the release from Moody’s.

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