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Fitch Affirms R.E. Repack Trust 2002-1

NEW YORK--(BUSINESS WIRE)--

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

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=679923

Global Rating Criteria for Structured Finance CDOs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=690203

Global Criteria for Cash Flow Analysis in CDOs

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=688518

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE '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.

Fitch Ratings
Primary Surveillance Analyst
Matthew McGowan, +1-212-908-0733
Analyst
Fitch Ratings, Inc.
One State Street Plaza
New York, NY 10004
or
Committee Chairperson
Mary MacNeill,+1-212-908-0785
Managing Director
or
Media Relations
Sandro Scenga, +1-212-908-0278
sandro.scenga@fitchratings.com

 

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