Fitch Affirms R.E. Repack Trust 2002-1
Fitch Ratings has affirmed class A of R.E. Repack Trust 2002-1 (R.E. Repack 2002-1) in conjunction with its rating actions on the trust's underlying security. A complete list of rating actions follows at the end of this press release.
SENSITIVITIES/KEY RATING DRIVERS:
The rating of class A of R.E. Repack 2002-1 is based on the credit quality of its underlying security which is the $40,630,417 class B issued by LNR CDO 2002-1, Ltd./Corp. (LNR 2002-1). For a detailed description of Fitch's rating analysis of LNR 2002-1, please see the press release 'Fitch Affirms LNR CDO 2002-1 Ltd./Corp.' dated Feb. 27, 2013 and available on the Fitch Ratings web site at 'www.fitchratings.com'.
Fitch has affirmed the following class as indicated:
--$40,630,417 class A Notes at 'BBsf'; Outlook to Stable from Negative.
Additional information is available at 'www.fitchratings.com'. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.
Applicable Criteria and Related Research:
--'Global Structured Finance Rating Criteria' (June 6, 2012);
--'Global Rating Criteria for Structured Finance CDOs' (Oct. 3, 2012);
--'Global Criteria for Cash Flow Analysis in CDOs' (Sept. 13, 2012).
Applicable Criteria and Related Research
Global Structured Finance Rating Criteria
Global Rating Criteria for Structured Finance CDOs
Global Criteria for Cash Flow Analysis in CDOs
Primary Surveillance Analyst
Matthew McGowan, +1-212-908-0733
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
Sandro Scenga, +1-212-908-0278