TdA. Titulización de Activos

TdA

Titulización de Activos

Sunday, December 8, 2019
Hide menu;
Start > Ratings updated

Ratings updated

SOL-LION

Calificación Standard and Poor's

Class A
Bond A: affirmed at AA(sf)

Class B
Bond B: upgraded to A+(sf) from A(sf)

Class C
Bond C: downgraded to BBB(sf) from A-(sf)

Calificación Fitch Ratings

Class A
Bond A: affirmed at AA+(sf); Outlook Stable

Class B
Bond B: upgraded to A+(sf) from A(sf); Outlook Stable

Class C
Bond C: affirmed at BBB(sf); Outlook revised to Positive from Stable

TDA SA NOSTRA EMPRESAS 1

Calificación Fitch Ratings

Class A
Bond A: affirmed at A(sf); Outlook Stable

Class B
Bond B: affirmed at A(sf); Outlook revised to Negative from Stable

Class C
Bond C: affirmed at BB+(sf); Outlook Negative

Class D
Bond D: affirmed at BB+(sf); Outlook Negative

Class E
Bond E: affirmed at BB+(sf); Outlook Negative

MADRID RMBS II

Calificación Moody's

Class A
Bond A1: Not rated from Aaa(sf)
Bond A2: affirmed at A1(sf)
Bond A3: upgraded to A1(sf) from A3(sf)

Class B
Bond B: upgraded to Baa3(sf) from Ba1(sf)

Class C
Bond C: upgraded to B3(sf) from Caa1(sf)

Class D
Bond D: downgraded to C(sf) from Ba3(sf)

Class E
Bond E: downgraded to C(sf) from B3(sf)

Calificación Fitch Ratings

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to BBB-(sf) from BBB(sf); Rating Outlook Negative
Bond A3: downgraded to BBB-(sf) from BBB(sf); Rating Outlook Negative

Class B
Bond B: downgraded to BB-(sf) from BB(sf); Rating Outlook Negative

Class C
Bond C: downgraded to B-(sf) from B(sf); Rating Outlook Negative

Class D
Bond D: affirmed at CCC(sf); Recovery Estimate 0%

Class E
Bond E: affirmed at CC(sf); Recovery Estimate 0%

Calificación Standard and Poor's

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: affirmed at A+(sf)
Bond A3: downgraded to BBB(sf) from A+(sf)

Class B
Bond B: upgraded to BBB-(sf) from BB-(sf)

Class C
Bond C: affirmed at B-(sf)

Class D
Bond D: affirmed at CCC+(sf)

Class E
Bond E: affirmed at D(sf)

CAIXA PENEDES PYMES 1 TDA

Calificación Fitch Ratings

Class A
Bond A: affirmed at AA(sf); Outlook revised to Negative from Stable

Class B
Bond B: downgraded to BB(sf) from BBB(sf); removed from Rating Watch Negative; Outlook Negative

Class C
Bond C: downgraded to CCC(sf) from B-(sf); removed from Rating Watch Negative; Recovery Estimate 25%

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: upgraded to Ba1(sf) from Ba2(sf)

Class C
Bond C: affirmed at Caa3(sf)

CAIXA PENEDES FTGENCAT 1 TDA

Calificación Fitch Ratings

Class A
Bond A1: affirmed at AA+(sf); Outlook Stable
Bond A2(CA): affirmed at AA+(sf); Outlook Stable

Class B
Bond B: affirmed at AA(sf); Outlook revised to Stable from Negative

Class C
Bond C: affirmed at BB+(sf); removed from Rating Watch Negative; Outlook Negative

TDA CCM CONSUMO 1

Calificación Fitch Ratings

Class A
Bond A: affirmed at AAA(sf); Outlook Negative

Class B
Bond B: upgraded to AA(sf) from A(sf); Outlook Stable

Class C
Bond C: upgraded to BBB(sf) from BB+(sf); Outlook Stable

TDA SA NOSTRA EMPRESAS 2

Calificación Fitch Ratings

Class A
Bond A: affirmed at A(sf); Outlook Stable

Class B
Bond B: affirmed at A(sf); Outlook Stable

Class C
Bond C: affirmed at BB+(sf); Outlook Negative

Class D
Bond D: affirmed at BB+(sf); Outlook Negative

Calificación Standard and Poor's

Class A
Bond A: Not Rated from A-(sf)

Class B
Bond B: Not Rated from B+(sf)

Class C
Bond C: Not Rated from B(sf)

Class D
Bond D: Not Rated from B(sf)

MADRID RMBS I

Calificación Fitch Ratings

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to BBB-(sf) from BBB(sf); Rating Outlook Negative

Class B
Bond B: downgraded to BB-(sf) from BB(sf); Rating Outlook Negative

Class C
Bond C: downgraded to B-(sf) from B(sf); Rating Outlook Negative

Class D
Bond D: affirmed at CCC(sf); Recovery Estimate 0%

Class E
Bond E: affirmed at CC(sf); Recovery Estimate 0%

Calificación Moody's

Class A
Bond A1: Not rated from Aaa(sf)
Bond A2: upgraded to A2(sf) from A3(sf)

Class B
Bond B: downgraded to Baa3(sf) from Ba2(sf)

Class C
Bond C: affirmed at Caa1(sf)

Class D
Bond D: downgraded to C(sf) from Ba2(sf)

Class E
Bond E: downgraded to C(sf) from B1(sf)

Calificación Standard and Poor's

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to BBB(sf) from A-(sf)

Class B
Bond B: upgraded to BB+(sf) from BB-(sf)

Class C
Bond C: affirmed at B-(sf)

Class D
Bond D: affirmed at CCC+(sf)

Class E
Bond E: affirmed at CCC-(sf)

TDA CCM EMPRESAS 1

Calificación Moody's

Class C
Bond C: downgraded to A1(sf) from Aa2(sf)

MADRID RMBS IV

Calificación Standard and Poor's

Class A
Bond A1: affirmed at A(sf)
Bond A2: affirmed at A(sf)

Class B
Bond B: downgraded to BBB(sf) from A(sf)

Class C
Bond C: downgraded to BB-(sf) from BB+(sf)

Class D
Bond D: affirmed at CCC(sf)

Class E
Bond E: affirmed at CC(sf)

Calificación Moody's

Class A
Bond A1: affirmed at A1(sf); placed on review for possible upgrade
Bond A2: affirmed at A3(sf); placed on review for possible upgrade

FTPYME TDA BANCA MARCH

Calificación Moody's

Class 2
Bond 2CA: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade
Bond 2SA: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade

Class 3
Bond 3SA: affirmed at Ba3(sf); placed under review for possible downgrade

CIBELES III FTPYME

Calificación Standard and Poor's

Class B
Bond BCA: downgraded to A(sf) from AA+(sf); removed from Watch Negative
Bond BSA: downgraded to A(sf) from AA+(sf); removed from Watch Negative

Class C
Bond C: upgraded to AA(sf) from BBB(sf)

Calificación Moody's

Class B
Bond BCA: affirmed at A3(sf); removed from placed under review for possible downgrade
Bond BSA: affirmed at A3(sf); removed from placed under review for possible downgrade

Class C
Bond C: upgraded to Aa2(sf) from A1(sf)

TDA 19-MIXTO

Calificación Fitch Ratings

Class A
Bond A: upgraded to AA+(sf) from AA-(sf); Outlook Stable

Class B
Bond B: upgraded to AA+(sf) from AA-(sf); Outlook Stable

Class C
Bond C: upgraded to AA(sf) from A+(sf); Outlook revised to Stable from Negative

Class D
Bond D: affirmed at BBB+(sf); Outlook revised to Stable from Negative

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: affirmed at Aa3(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at Baa1(sf); placed under review for possible upgrade

Class D
Bond D: affirmed at Ba2(sf); placed under review for possible upgrade

TDA CAJAMAR 2

Calificación Fitch Ratings

Class A
Bond A2: affirmed at AA+(sf); Outlook Stable
Bond A3: affirmed at AA+(sf); Outlook Stable

Class B
Bond B: affirmed at A(sf); Outlook Stable

Class C
Bond C: affirmed at A-(sf); Outlook Stable

Class D
Bond D: affirmed at BB+(sf); Outlook Stable

Calificación Standard and Poor's

Class A
Bond A2: upgraded to AA(sf) from AA-(sf)
Bond A3: downgraded to A(sf) from AA-(sf)

Class B
Bond B: affirmed at A(sf)

Class C
Bond C: upgraded to A-(sf) from BBB(sf)

Class D
Bond D: upgraded to BBB-(sf) from BB-(sf)

FTPYME TDA CAM 9

Calificación Moody's

Class A
Bond A1: Not rated from Aa2(sf)
Bond A2(G): upgraded to Aa2(sf) from A1(sf)

Calificación DBRS

Class A
Bond A2(G): upgraded to AAA(sf) from AA(high)(sf)

TDA CAM 12

Calificación Moody's

Class A
Bond A1: Not rated from Aa2(sf)
Bond A2: affirmed at Aa3(sf); placed under review for possible upgrade
Bond A3: affirmed at Aa3(sf); placed under review for possible upgrade
Bond A4: affirmed at Aa3(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at A1(sf); placed under review for possible upgrade

Class C
Bond C: upgraded to Ba3(sf) from B1(sf)

Calificación Fitch Ratings

Class A
Bond A1: Not rated from A+(sf)
Bond A2: affirmed at A-(sf); Rating Outlook Positive from Negative
Bond A3: affirmed at A-(sf); Rating Outlook Positive from Negative
Bond A4: affirmed at A-(sf); Rating Outlook Positive from Negative

Class B
Bond B: affirmed at BBB(sf); Rating Outlook Positive from Negative

Class C
Bond C: upgraded to B(sf) from CCC(sf); Outlook Stable from RE 85%

MADRID CONSUMO I

Calificación Standard and Poor's

Class A
Bond A: downgraded to A(sf) from AA-(sf); Watch Negative

Calificación Moody's

Class A
Bond A: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade

TDA 21

Calificación Standard and Poor's

Class 1
Class A1: affirmed at AAA(sf)
Class B1: affirmed at A(sf)

Class 2
Class B2: affirmed at BBB(sf)

TDA IBERCAJA 1

Calificación Standard and Poor's

Class A
Bond A: downgraded to A+(sf) from AA-(sf)

Class B
Bond B: affirmed at BBB(sf)

Class C
Bond C: affirmed at BB+(sf)

Class D
Bond D: downgraded to B(sf) from BB(sf)

Calificación Moody's

Class A
Bond A: affirmed at Aa3(sf): placed under review for possible upgrade

Class B
Bond B: affirmed at Baa2(sf): placed under review for possible upgrade

Class C
Bond C: affirmed at Ba1(sf): placed under review for possible upgrade

Class D
Bond D: affirmed at Ba2(sf): placed under review for possible upgrade

TDA 7

Calificación Fitch Ratings

Class A
Bond A3: affirmed at AAA(sf); Outlook Stable; Loss Severity (LS) Rating of 'LS-1'

Class B
Bond B: affirmed at AA+(sf); Outlook revised to Stable from Positive; 'LS-1'

FTPYME TDA 3

Bond 1SA

Fitch Ratings has upgraded bond 1SA of FTPYME TDA 3, to AAA(sf) (before AA(sf))

Bond 2CA

Fitch Ratings has upgraded bond 2CA of FTPYME TDA 3, to AAA(sf) (before AA+(sf))

Bond 2SA

Fitch Ratings has upgraded bond 2SA of FTPYME TDA 3, to AAA(sf) (before AA-(sf))

Bond B

Fitch Ratings has upgraded bond B of FTPYME TDA 3, to BBB(sf) (before BB+(sf))

FTPYME TDA CAM1

Bond 2SA

Fitch Ratings has upgraded bond 2SA of FTPYME TDA CAM 1, to AA(sf) (before AA+(sf))

Bond B

Fitch Ratings has upgraded bond B of FTPYME TDA CAM 1, to BBB+(sf) (before BBB(sf))

TDA 4

Bond B

Moody's Investors Service has upgraded bond B of TDA 4, to A1(sf) (before A2(sf))

TDA 5

Bond B

Moody's Investors Service has upgraded bond B of TDA 5, to Aa1(sf) (before Aa3(sf))

Fitch Ratings has upgraded bond B of TDA 5, to AAA(sf) (before AA-(sf))

FTPYME ICO TDA 2

Bond 1SA

Fitch Ratings has upgraded bond 1SA of FTPYME ICO TDA 2, to AAA(sf) (before AA(sf))

Bond 2CA

Fitch Ratings has upgraded bond 2CA of FTPYME ICO TDA 2, to AAA(sf) (before AA+(sf))

Bond 2SA

Fitch Ratings has upgraded bond 2SA of FTPYME ICO TDA 2, to AAA(sf) (before A(sf))

Bond B

Fitch Ratings has upgraded bond B of FTPYME ICO TDA 2, to A(sf) (before BB(sf))

FTPYME TDA 4

Calificación Fitch Ratings

Class 1
Bond 1SA: affirmed at AAA(sf); Outlook Stable, assigned a Loss Severity (LS) rating of LS-3

Class 2
Bond 2CA: downgraded to AA+(sf) from AAA(sf)
Bond 2SA: downgraded to AA(sf) from AAA(sf); Removed from RWN, assigned Outlook Stable, assigned LS-3

Class B
Bond B: downgraded to BB(sf) from BBB(sf); Removed from RWN, assigned Outlook Negative, assigned LS-3

TDA CREDIFIMO 1

Calificación Standard and Poor's

Class A
Bond A: affirmed at AAA(sf); removed from Watch Negative

Class B
Bond B: downgraded to BBB+(sf) from A-(sf)

Class C
Bond C: downgraded to BBB-(sf) from BBB(sf); removed from Watch Negative

Class D
Bond D: downgraded to B(sf) from BB(sf); removed from Watch Negative

Class E
Bond E: affirmed at CCC-(sf)

TDA 20 Mixto

Calificación Moody's

Class 1
Bond A1: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B1: affirmed at Baa2(sf); placed under review for possible upgrade

Class 2
Bond A2: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B2: affirmed at Baa2(sf); placed under review for possible upgrade

TDA IBERCAJA 2

Calificación Moody's

Class A
Bond A: affirmed at A1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Ba1(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at B1(sf); placed under review for possible upgrade

Class D
Bond D: upgraded to B2(sf) from B3(sf)

Class E
Bond E: downgraded to Ca(sf) from Caa2(sf); removed from placed under review for possible downgrade

Calificación Standard and Poor's

Class A
Bond A: downgraded to BBB(sf) from BBB+(sf)

Class B
Bond B: affirmed at BB+(sf)

Class C
Bond C: affirmed at BB(sf)

Class D
Bond D: affirmed at B+(sf)

TDA 16 Mixto

Calificación Moody's

Class 1
Bond A1: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B1: upgraded to Aa3(sf) from Baa1(sf); removed from placed under review for possible upgrade

Class 2
Bond A2: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B2: upgraded to Aa3(sf) from A3(sf); removed from placed under review for possible upgrade

TDA 22 Mixto

Calificación Moody's

Class 1
Bond A1a: affirmed at A3(sf); removed from placed under review for possible downgrade
Bond A1b: affirmed at A3(sf); placed under review for possible upgrade
Bond B1: affirmed at Ba3(sf); placed under review for possible upgrade
Bond C1: affirmed at Caa2(sf)
Bond D1: affirmed at Caa3(sf)

Class 2
Bond A2a: upgraded to Aa2(sf) from A1(sf)
Bond A2b: upgraded to Aa2(sf) from A1(sf)
Bond B2: upgraded to A3(sf) from Baa2(sf)
Bond C2: upgraded to Ba2(sf) from Ba3(sf)
Bond D2: affirmed at B3(sf)

TDA IBERCAJA 3

Calificación Moody's

Class A
Bond A: affirmed at A1(sf); placed under review for possible upgrade

Class B
Bond B: upgraded to Ba2(sf) from B1(sf)

Class C
Bond C: affirmed at Caa1(sf)

Class D
Bond D: affirmed at Ca(sf)

Calificación Standard and Poor's

Class A
Bond A: downgraded to BBB(sf) from AA-(sf)

Class B
Bond B: affirmed at BB(sf)

Class C
Bond C: affirmed at B(sf)

TDA 18 Mixto

Calificación Moody's

Class 1
Bond A1: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B1: upgraded to A1(sf) from Baa3(sf); removed from placed under review for possible upgrade

Class 2
Bond A2: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B2: affirmed at A3(sf); placed under review for possible upgrade

TDA 15 Mixto

Calificación Moody's

Class 1
Bond A1: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B1: affirmed at Baa1(sf); placed under review for possible upgrade

Class 2
Bond A2: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B2: affirmed at A3(sf); placed under review for possible upgrade

TDA 13 Mixto

Calificación Moody's

Class 1
Bond A1: upgraded to Aa2(sf) from A1(sf)
Bond B1: affirmed at Baa1(sf); placed under review for possible upgrade

Class 2
Bond A2: upgraded to Aa2(sf) from A1(sf)
Bond B2: upgraded to Baa1(sf) from Baa2(sf)

TDA CAM 1

Calificación Fitch Ratings

Class A
Bond A: upgraded to AA+(sf) from AA-(sf); removed from Rating Watch Positive; Outlook Stable

Class B
Bond B: affirmed at A(sf); Outlook Negative

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: affirmed at A3(sf); placed under review for possible upgrade

TDA CAM 2

Calificación Fitch Ratings

Class A
Bond A: upgraded to AA+(sf) from AA-(sf); removed from Rating Watch Positive; Outlook Stable

Class B
Bond B: affirmed at BBB(sf); Rating Outlook Negative

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: affirmed at Baa1(sf); placed under review for possible upgrade

TDA CAM 3

Calificación Fitch Ratings

Class A
Bond A: upgraded to AA+(sf) from AA-(sf); removed from Rating Watch Positive; Outlook Stable

Class B
Bond B: affirmed at BBB-(sf); Outlook Negative

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: upgraded to A3(sf) from Baa3(sf)

TDA CAM 4

Calificación Fitch Ratings

Class A
Bond A: affirmed at AA-(sf); Rating Outlook Negative

Class B
Bond B: downgraded to BB(sf) from BBB-(sf); Rating Outlook Negative

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A2(sf)

Class B
Bond B: affirmed at Ba2(sf); placed under review for possible upgrade

TDA CAM 5

Calificación Fitch Ratings

Class A
Bond A: affirmed at BBB(sf); Rating Outlook Negative

Class B
Bond B: affirmed at CCC(sf); Recovery Estimate to 95% from 100%

Calificación Moody's

Class A
Bond A: affirmed at Baa1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Caa3(sf)

TDA IBERCAJA 4

Calificación Standard and Poor's

Class A
Bond A1: upgraded to AA(sf) from A+(sf)
Bond A2: downgraded to BBB+(sf) from A+(sf)
Bond A3PAC: upgraded to AA(sf) from A+(sf)

Class B
Bond B: affirmed at BBB(sf)

Class C
Bond C: downgraded to BB+(sf) from BBB-(sf)

Class D
Bond D: affirmed at B(sf)

Class E
Bond E: affirmed at B-(sf)

Class F
Bond F: affirmed at D(sf)

Calificación Moody's

Class A
Bond A1: affirmed at A1(sf); placed under review for possible upgrade
Bond A2: affirmed at A1(sf); placed under review for possible upgrade
Bond A3PAC: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: affirmed at Baa3(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at Ba2(sf); placed under review for possible upgrade

Class D
Bond D: affirmed at B3(sf)

Class E
Bond E: affirmed at Caa2(sf)

TDA CAM 11

Calificación Moody's

Class A
Bond A1: Not Rated from Aa2(sf)
Bond A2: affirmed at Aa3(sf); placed under review for possible upgrade
Bond A3: affirmed at Aa3(sf); placed under review for possible upgrade
Bond A4: affirmed at Aa3(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Ba2(sf); removed from placed under review for possible upgrade

Class C
Bond C: upgraded to B3(sf) from Caa1(sf)

Calificación Fitch Ratings

Class A
Bond A1: Not Rated from A+(sf)
Bond A2: affirmed at A-(sf); Rating Outlook Positive from Negative
Bond A3: affirmed at A-(sf); Rating Outlook Positive from Negative
Bond A4: affirmed at A-(sf); Rating Outlook Positive from Negative

Class B
Bond B: affirmed at BBB(sf); Rating Outlook Positive from Negative

Class C
Bond C: upgraded to B(sf) from CCC(sf); Outlook Stable

CAP TDA 1

Calificación Fitch Ratings

Bond: affirmed at AAA(sf); Outlook Stable

FTPYME TDA SABADELL 1

Calificación Fitch Ratings

Class 1
Bond 1CA: affirmed at AAA(sf); Outlook Stable
Bond 1SA: affirmed at AAA(sf); Outlook Stable; Loss Severity Rating 'LS-1'

Class 2
Bond 2SA: affirmed at AA+(sf); Removed from RWN, assigned Outlook Stable; Loss Severity Rating 'LS-1'

Class B
Bond B: downgraded to BB(sf) from BBB(sf); Removed from RWN, assigned Outlook Negative; Loss Severity Rating 'LS-1'

FTPYME TDA SABADELL 2

Calificación Fitch Ratings

Class 1
Bond 1CA: downgraded to AA-(sf) from AAA(sf); Outlook Stable
Bond 1SA: downgraded to AA-(sf) from AAA(sf); Outlook Stable

Class 2
Bond 2SA: affirmed at BBB(sf); Outlook Stable

Class 3
Bond 3SA: affirmed at BB(sf); Outlook Negative

Calificación Standard and Poor's

Class 1
Bond 1CA: downgraded to BBB-(sf) from A-(sf)
Bond 1SA: downgraded to BBB-(sf) from A-(sf)

Class 2
Bond 2SA: downgraded to BBB-(sf) from A-(sf)

Class 3
Bond 2SA: downgraded to BB(sf) from BBB(sf)

TDA 24

Calificación Fitch Ratings

Class A
Bond A1: affirmed at B(sf); Outlook Negative
Bond A2: affirmed at B(sf); Outlook Negative

Value NAS-IO: Not rated from AAA(sf)

Class B
Bond B: affirmed at CC(sf); Recovery Estimate 0%

Class C
Bond C: affirmed at CC(sf); Recovery Estimate 0%

Class D
Bond D: affirmed at CC(sf); Recovery Estimate 0%

Calificación Standard and Poor's

Class A
Bond A1: downgraded to CCC(sf) from AA-(sf); removed from Watch Negative
Bond A2: downgraded to CCC(sf) from AA-(sf); removed from Watch Negative

Value NAS-IO: Not rated from AAA(sf)

Class B
Bond B: downgraded to D(sf) from CCC-(sf); removed from Watch Negative

Class C
Bond C: affirmed at D(sf)

Class D
Bond D: affirmed at D(sf)

FTPYME TDA 5

Calificación Fitch Ratings

Class 1
Bond 1SA: affirmed at AAA(sf); Outlook Stable


Class 2
Bond 2CA: downgraded to AA(sf) from AA+(sf); Outlook Stable
Bond 2SA: affirmed at AA(sf); Outlook Stable

Class 3
Bond 3SA: affirmed at BBB(sf); Outlook Negative

FTPYME TDA CAM 2

Calificación Fitch Ratings

Class 1
Bond 1SA: Not rated from AAA(sf)
Bond 1CA(G): affirmed at A+(sf); Outlook Stable

Class 2
Bond 2SA: upgraded to A+(sf) from BBB(sf); Outlook Stable

Class 3
Bond 3SA: affirmed at CCC(sf); Recovery Estimate revised to 85% from 50%

Calificación Moody's

Class 1
Bond 1SA: Not rated from Aaa(sf)
Bond 1CA(G): upgraded to Aa2(sf) from A1(sf)

Class 2
Bond 2SA: affirmed at Baa1(sf)

Class 3
Bond 3SA: affirmed at Caa3(sf)

TDA 25

Calificación Fitch Ratings

Class A
Bond A: affirmed at CC(sf); Recovery Estimate revised to 45% from 50%
Class B
Bond B: affirmed at CC(sf); Recovery Estimate 0%
Class C
Bond C: affirmed at CC(sf); Recovery Estimate 0%
Class D
Bond D: affirmed at CC(sf); Recovery Estimate 0%

Value NAS-IO: Not rated from AAA(sf)

Calificación Standard and Poor's

Class A
Bond A: affirmed at CCC(sf); removed from Watch Negative

Class B
Bond B: affirmed at D(sf)

Class C
Bond C: affirmed at D(sf)

Class D
Bond D: affirmed at D(sf)

Value NAS-IO: Not rated from AAA(sf)

TDA CAM 6

Calificación Fitch Ratings

Class A
Bond A1: Not rated from A(sf)
Bond A2: affirmed at BBB-(sf); Rating Outlook Stable from Negative
Bond A3: downgraded to BB(sf) from BBB-(sf); Rating Outlook Negative

Class B
Bond B: affirmed at CCC(sf); RE 30% from RE 80%

Calificación Moody's

Class A
Bond A1: Not rated from A3(sf)
Bond A2: affirmed at A1(sf); placed under review for possible upgrade
Bond A3: upgraded to Ba1(sf) from Ba2(sf)

Class B
Bond B: affirmed at Ca(sf)

TDA CAM 7

Calificación Fitch Ratings

Class A
Bond A1: Not Rated
Bond A2: affirmed at BBB-(sf); Rating Outlook Negative
Bond A3: affirmed at BBB-(sf); Rating Outlook Negative

Class B
Bond B: affirmed at CCC(sf); RE 40% from RE 80%

Calificación Standard and Poor's

Class A
Bond A1: Not Rated
Bond A2: downgraded to BBB(sf) from A(sf)
Bond A3: downgraded to BBB(sf) from A(sf)

Class B
Bond B: affirmed at D(sf)

Calificación Moody's

Class A
Bond A1: Not Rated
Bond A2: affirmed at Baa1(sf); placed under review for possible upgrade
Bond A3: affirmed at Baa1(sf); placed under review for possible upgrade

Class B
Bond B: downgraded to Ca(sf) from Caa2(sf); removed from placed under review for possible downgrade

TDA 26-Mixto

Calificación Moody's

Class 1
Bond 1-A2: affirmed at Aa3(sf); placed under review for possible upgrade
Bond 1-B: affirmed at Ba1(sf); placed under review for possible upgrade
Bond 1-C: affirmed at Caa2(sf)
Bond 1-D: downgraded to C(sf) from Ca(sf); removed from placed under review for possible downgrade

Calificación Fitch Ratings

Class 1
Bond 1-A2: downgraded to A(sf) from AA-(sf); removed from Rating Watch Negative; Outlook Stable
Bond 1-B: affirmed at BBB(sf); Outlook Negative
Bond 1-C: affirmed at BB+(sf); Outlook Negative
Bond 1-D: affirmed at CCC(sf); Recovery Estimate 0%

Class 2
Bond 2-A: affirmed at A(sf); Outlook Negative
Bond 2-B: affirmed at BB(sf); Outlook Negative
Bond 2-C: affirmed at CCC(sf); Recovery Estimate 20%

EMPRESAS HIPOTECARIO TDA CAM 5

Calificación Fitch Ratings

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to BB(sf) from BBB-(sf); Negative Outlook
Bond A3: downgraded to BB(sf) from BBB-(sf); Negative Outlook

Class B
Bond B: downgraded to CCC(sf) from B(sf); Recovery Estimate 0%

Class C
Bond C: affirmed at CC(sf); Recovery Estimate 0%

Class D
Bond D: affirmed at C(sf); Recovery Estimate 0%

Calificación Standard and Poor's

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to BBB-(sf) from AA-(sf)
Bond A3: downgraded to BBB-(sf) from AA-(sf)

Class B
Bond B: downgraded to D(sf) from CCC-(sf)

Class C
Bond C: downgraded to D(sf) from CCC-(sf); removed from Negative Outlook

Class D
Bond D: affirmed at D(sf)

TDA 27

Calificación Fitch Ratings

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to CCC(sf) from B(sf); Recovery Estimate 90%
Bond A3: downgraded to CCC(sf) from B(sf); Recovery Estimate 90%

Class B
Bond B: downgraded to CC(sf) from CCC(sf); Recovery Estimate 0%

Class C
Bond C: affirmed at CC(sf); Recovery Estimate 0%

Class D
Bond D: affirmed at CC(sf); Recovery Estimate 0%

Class E
Bond E: affirmed at CC(sf); Recovery Estimate 0%

Class F
Bond F: affirmed at CC(sf); Recovery Estimate 0%

Value NAS-IO: Not rated from AAA(sf)

Calificación Standard and Poor's

Class A
Bond A1: Not Rated from AAA(sf)
Bond A2: downgraded to CCC(sf) from AA-(sf); removed from Watch Negative
Bond A3: downgraded to CCC(sf) from AA-(sf); removed from Watch Negative

Class B
Bond B: downgraded to CCC(sf) from BB(sf); removed from Watch Negative

Class C
Bond C: downgraded to CCC(sf) from B-(sf); removed from Watch Negative

Class D
Bond D: affirmed at D(sf)

Class E
Bond E: affirmed at D(sf)

Class F
Bond F: affirmed at D(sf)

Value NAS-IO: Not rated from AAA(sf)

TDA 28

Calificación Fitch Ratings

Class A
Bond A: affirmed at CC(sf); Recovery Estimate revised to 50% from 70%

Class B
Bond B: affirmed at CC(sf); Recovery Estimate 0%

Class C
Bond C: affirmed at CC(sf); Recovery Estimate 0%

Class D
Bond D: affirmed at CC(sf); Recovery Estimate 0%

Class E
Bond E: affirmed at CC(sf); Recovery Estimate 0%

Class F
Bond F: affirmed at CC(sf); Recovery Estimate 0%

Value NAS-IO: Not rated from AAA(sf)

Calificación Standard and Poor's

Class A
Bond A: Not Rated from CCC(sf)

Class B
Bond B: Not Rated from D(sf)

Class C
Bond C: Not Rated from D(sf)

Class D
Bond D: Not Rated from D(sf)

Class E
Bond E: Not Rated from D(sf)

Class F
Bond F: Not Rated from D(sf)

Value NAS-IO: Not Rated from AAA(sf)

MADRID RMBS III

Calificación Moody's

Class A
Bond A1: Not rated from Aaa(sf)
Bond A2: upgraded to Baa1(sf) from Baa2(sf)
Bond A3: upgraded to Baa1(sf) from Baa2(sf)

Class B
Bond B: affirmed at B2(sf)

Class C
Bond C: downgraded to Ca(sf) from Baa2(sf)

Class D
Bond D: downgraded to C(sf) from Ba2(sf)

Class E
Bond E: downgraded to C(sf) from B3(sf)

Calificación Fitch Ratings

Class A
Bond A1: Not rated from AA-(sf)
Bond A2: downgraded to BB-(sf) from BB(sf); Rating Outlook Negative
Bond A3: downgraded to BB-(sf) from BB(sf); Rating Outlook Negative

Class B
Bond B: downgraded to B+(sf) from BB-(sf); Rating Outlook Negative

Class C
Bond C: affirmed at CCC(sf); Recovery Estimate 0%

Class D
Bond D: affirmed at CC(sf); Recovery Estimate 0%

Class E
Bond E: affirmed at C(sf); Recovery Estimate 0%

Calificación Standard and Poor's

Class A
Bond A1: Not rated from AA(sf)
Bond A2: downgraded to BBB(sf) from A-(sf)
Bond A3: downgraded to BBB(sf) from A-(sf)

Class B
Bond B: affirmed at D(sf)

Class C
Bond C: affirmed at D(sf)

Class D
Bond D: affirmed at D(sf)

Class E
Bond E: affirmed at D(sf)

TDA CAM 8

Calificación Fitch Ratings

Class A
Bond A: downgraded to BB-(sf) from BB(sf); Rating Outlook Negative

Class B
Bond B: affirmed at CCC(sf)

Class C
Bond C: affirmed at CC(sf)

Class D
Bond D: affirmed at CC(sf)

Calificación Standard and Poor's

Class A
Bond A: downgraded to BBB(sf) from A(sf)

Class B
Bond B: affirmed at D(sf)

Class C
Bond C: affirmed at D

Class D
Bond D: affirmed at D(sf)

Calificación Moody's

Class A
Bond A: upgraded to Baa3(sf) from Ba2(sf); removed from placed under review for possible upgrade

Class B
Bond B: downgraded to Ca(sf) from Caa1(sf); removed from placed under review for possible downgrade

Class C
Bond C: downgraded to Ca(sf) from Caa2(sf); removed from placed under review for possible downgrade

Class D
Bond D: downgraded to C(sf) from Ca(sf)

TDA CAM 9

Calificación Fitch Ratings

Class A
Bond A1: affirmed at B(sf); Rating Outlook Negative
Bond A2: affirmed at B(sf); Rating Outlook Negative
Bond A3: affirmed at B(sf); Rating Outlook Negative

Class B
Bond B: affirmed at CCC(sf); RE 15% from RE 100%

Class C
Bond C: affirmed at CC(sf); RE 0% from RE 15%

Class D
Bond D: affirmed at CC(sf); RE 0%

Calificación Standard and Poor's

Class A
Bond A1: downgraded to BB+(sf) from BBB(sf)
Bond A2: downgraded to BB+(sf) from BBB(sf)
Bond A3: downgraded to BB+(sf) from BBB(sf)

Class B
Bond B: affirmed at D(sf)

Class C
Bond C: affirmed at D(sf)

Class D
Bond D: affirmed at D(sf)

Calificación Moody's

Class A
Bond A1: upgraded to Ba1(sf) from Ba3(sf); removed from placed under review for possible upgrade
Bond A2: upgraded to Ba1(sf) from Ba3(sf); removed from placed under review for possible upgrade
Bond A3: upgraded to Ba1(sf) from Ba3(sf); removed from placed under review for possible upgrade

Class B
Bond B: downgraded to Ca(sf) from Caa1(sf); removed from placed under review for possible downgrade

Class C
Bond C: downgraded to Ca(sf) from Ba2(sf)

Class D
Bond D: downgraded to C(sf) from Ca(sf)

TDA 29

Calificación Fitch Ratings

Class A
Bond A1: Not rated from AA-(sf)
Bond A2: affirmed at BBB(sf); Outlook revised to Stable from Negative

Class B
Bond B: affirmed at B(sf); Outlook revised to Stable from Negative

Class C
Bond C: affirmed at CCC(sf); Recovery Estimate 65%

Class D
Bond D: affirmed at CC(sf); Recovery Estimate 0%

Calificación Moody's

Class A
Bond A1: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade
Bond A2: upgraded to A1(sf) from Baa1(sf);

Class B
Bond B: upgraded to Ba2(sf) from B1(sf)

Class C
Bond C: affirmed at Caa3(sf)

EMPRESAS HIPOTECARIO TDA CAM 3

Calificación Fitch Ratings

Class A
Bond A2: affirmed at BB(sf); Outlook revised to Stable from Negative

Class B
Bond B: affirmed at B-(sf); Outlook Negative

Class C
Bond C: affirmed at CC(sf); Recovery Estimate (RE) 0%

Calificación Standard and Poor's

Class A
Bond A2: downgraded to BBB(sf) from BBB+(sf)

Class B
Bond B: downgraded to B-(sf) from B+(sf)

Class C
Bond C: affirmed at CCC-(sf)

TDA EMPRESAS PASTOR 5

Calificación Standard and Poor's

Class A
Bond A: affirmed at AA(sf); Watch Negative

Class B
Bond B: affirmed at BBB(sf); removed from Watch Negative

Class C
Bond C: affirmed at B(sf); removed from Watch Negative

Class D
Bond D: affirmed at D(sf)

FTPYME TDA CAM 4

Calificación Fitch Ratings

Class A
Bond A2: affirmed at BBB(sf); Outlook revised to Negative from Stable
Bond A3(CA): affirmed at BBB+(sf); Outlook Stable

Class B
Bond B: downgraded to CCC(sf) from B(sf); Recovery Estimate 65%

Class C
Bond C: downgraded to CC(sf) from CCC(sf); Recovery Estimate 0%

Class D
Bond D: affirmed at C(sf); Recovery Estimate 0%

Calificación Standard and Poor's

Class A
Bond A2: affirmed at A+(sf)
Bond A3(CA): affirmed at A+(sf)

Class B
Bond B: affirmed at CCC-

Class C
Bond C: affirmed at D(sf)

Class D
Bond D: affirmed at D(sf)

Calificación Moody's

Class A
Bond A2: affirmed at A1(sf); placed under review for possible upgrade
Bond A3(CA): affirmed at A1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Caa1(sf)

Class C
Bond C: downgraded to Ca(sf) from Caa3(sf); removed from placed under review for possible downgrade

Class D
Bond D: downgraded to C(sf) from Ca(sf)

TDA PASTOR CONSUMO 1

Calificación Moody's

Class A
Bond A: affirmed at Baa1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at A1(sf); placed under review for possible upgrade

Class C
Bond C: downgraded to Ca(sf) from Caa3(sf); removed from placed under review for possible downgrade

Calificación Standard and Poor's

Class A
Bond A: upgraded to BB(sf) from BB-(sf)

Class B
Bond B: downgraded to B-(sf) from B(sf)

Class C
Bond C: downgraded to CCC-(sf) from CCC(sf)

FTPYME TDA 6

Calificación Fitch Ratings

Class 1
Bond 1SA: Not rated from AAA(sf)


Class 2
Bond 2CA: upgraded to BBB+(sf) from BBB(sf); Outlook Stable
Bond 2SA: affirmed at BBB(sf); Outlook revised to Stable from Negative

Class 3
Bond 3SA: affirmed at CCC(sf); Recovery Estimate 45%

CAIXA PENEDES 1 TDA

Calificación Fitch Ratings

Class A
Bond A: affirmed at AA+(sf); Outlook Stable

Class B
Bond B: affirmed at A+(sf); Outlook Stable

Class C
Bond C: affirmed at BB(sf); Outlook Stable

Calificación Standard and Poor's

Class A
Bond A: affirmed at AA(sf)

Class B
Bond B: downgraded to BBB+(sf) from A(sf)

Class C
Bond C: downgraded to B(sf) from BB(sf)

TDA TARRAGONA 1

Calificación Moody's

Class A
Bond A: affirmed at A2(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Baa3(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at Ba1(sf); placed under review for possible upgrade

Class D
Bond D: affirmed at Caa3(sf)

Calificación Standard and Poor's

Class A
Bond A: upgraded to BBB+(sf) from BBB-(sf)

Class B
Bond B: upgraded to BBB(sf) from B+(sf)

TDA 23

Calificación Moody's

Class A
Bond A: upgraded to A1(sf) from A3(sf)

Class B
Bond B: upgraded to Ba3(sf) from B1(sf)

Class C
Bond C: affirmed at Caa3(sf)

CEDULAS TDA 7

Calificación Moody's

Bond: downgraded to Baa3(sf) from Baa1(sf); removed from review for possible downgrade

Calificación Fitch Ratings

Bond: affirmed at BB+(sf); Outlook Stable from Negative

Calificación Standard and Poor's

Bond: downgraded to BB(sf) from BB+(sf); removed from Watch Negative

CM BANCAJA 1

Calificación Fitch Ratings

Class A
Bond A: affirmed at AA+(sf); Outlook Stable

Class B
Bond B: affirmed at A(sf); Outlook Stable

Class C
Bond C: affirmed at BB(sf); Outlook Stable

Class D
Bond D: affirmed at B(sf); Outlook Negative

Class E
Bond E: affirmed at CC(sf); assigned Recovery Estimate 0%

Calificación Standard and Poor's

Class A
Bond A: upgraded to AA(sf) from AA-(sf)

Class B
Bond B: upgraded to A(sf) from BB(sf); removed from Watch Negative

Class C
Bond C: upgraded to BBB+(sf) from B+(sf); removed from Watch Negative

Class D
Bond D: upgraded to B+(sf) from B-(sf); removed from Watch Negative

CEDULAS TDA 5

Calificación Moody's

Bond: affirmed at Baa1(sf); removed from review for possible downgrade

Calificación Fitch Ratings

Bond: affirmed at BBB+(sf); Outlook Stable

Calificación Standard and Poor's

Bond: downgraded to BBB-(sf) from BBB(sf); removed from Watch Negative

PROGRAMA CEDULAS TDA

Calificación Moody's

Bond A1: upgraded to A3(sf) from Baa1(sf); removed from review with uncertain direction
Bond A3: affirmed at A3(sf); removed from review for possible downgrade
Bond A4: affirmed at Baa1(sf); removed from review for possible downgrade
Bond A5: affirmed at A3(sf); removed from review for possible downgrade
Bond A6: upgraded to A3(sf) from Baa1(sf); removed from review for possible downgrade

Calificación Fitch Ratings

Bond A1: upgraded to A(sf) from BBB(sf); Stable Outlook
Bond A3: upgraded to A(sf) from BBB(sf); Stable Outlook
Bond A4: affirmed at BBB(sf); Stable from Negative Outlook
Bond A5: affirmed at BBB(sf); Stable from Negative Outlook
Bond A6: affirmed at BBB(sf); Stable from Negative Outlook

Calificación Standard and Poor's

Bond A1: upgraded to BBB+(sf) from BBB(sf); removed from Watch Positive
Bond A3: upgraded to A-(sf) from BBB+(sf)
Bond A4: downgraded to BB(sf) from BBB-(sf); removed from Watch Negative
Bond A5: upgraded to BBB-(sf) from BB+(sf)
Bond A6: downgraded to BB+(sf) from BBB-(sf); removed from Watch Negative

CEDULAS TDA 2

Calificación Moody's

Bond: affirmed at A3(sf); on review for possible downgrade

Calificación Fitch Ratings

Bond: affirmed at BBB(sf); Negative Outlook

Calificación Standard and Poor's

Bond: downgraded to A-(sf) from AA-(sf); removed from Watch Negative

CEDULAS TDA 3

Calificación Moody's

Bond: affirmed at A3(sf): removed from review for possible downgrade

Calificación Fitch Ratings

Bond: upgraded to A(sf) from BBB(sf); Outlook Stable

Calificación Standard and Poor's

Bond: downgraded to BBB-(sf) from A-(sf); remove from Watch Negative

CEDULAS TDA 1

Calificación Moody's

Bond: affirmed at Aaa(sf)

Calificación Fitch Ratings

Bond: affirmed at AAA(sf); Stable Outlook

CEDULAS TDA 6

Calificación Moody's

Bond: downgraded to A3(sf) from Baa1(sf); removed from review for possible downgrade

Calificación Fitch Ratings

Bond: affirmed at BBB(sf); Negative Outlook

Calificación Standard and Poor's

Bond: affirmed at BBB-(sf); removed from Watch Negative

CEDULAS TDA 14

Calificación Fitch Ratings

Class A: affirmed at AAA(sf); Stable Outlook

CEDULAS TDA 13

Calificación Fitch Ratings

Bond: affirmed at AA(sf); Watch Negative

CEDULAS TDA 18

Calificación Fitch Ratings

Bond: Not rated from BBB(sf)

Calificación Standard and Poor's

Bond: upgraded to AA(sf) from AA-(sf)

CEDULAS TDA 21

Calificación Moody's

Bond: upgraded to Baa2(sf) from Baa3(sf): removed from review with uncertain direction

Calificación Standard and Poor's

Bond: upgraded to AA(sf) from AA-(sf)

CEDULAS TDA 17

Calificación Moody's

Bond: affirmed at Baa3(sf): on review for possible downgrade

Calificación Standard and Poor's

Bond: downgraded to AA-(sf) from AA+(sf)

TDA 11

Calificación Moody's

Class A
Bond A3: affirmed at A3(sf); removed from placed under review for possible downgrade

Class B
Bond B: affirmed at A3(sf); removed from placed under review for possible downgrade

CEDULAS TDA 20

Calificación Moody's

Class A
Bond A1: affirmed at Baa1(sf); on review with uncertain direction
Bond A2: affirmed at Baa1(sf): on review with uncertain direction

Calificación Standard and Poor's

Class A
Bond A1: downgraded to AA-(sf) from AA+(sf)
Bond A2: downgraded to AA-(sf) from AA+(sf)

MADRID EMPRESAS I

Calificación Standard and Poor's

Class B
Bond B: affirmed at AA-(sf): Watch Negative

CEDULAS TDA 19

Calificación Moody's

Bond A: downgraded to Aa3(sf) from Aa1(sf); maintained on review for downgrade

TDA 9

Calificación Moody's

Class A
Bond A3: downgraded to Aa2(sf) from Aaa(sf); removed from placed on review for possible downgrade

TDA 30

Calificación Moody's

Class A
Bond A: upgraded to A1(sf) from A2(sf)

Class B
Bond B: upgraded to Baa3(sf) from Ba2(sf)

Class C
Bond C: upgraded to B2(sf) from B3(sf)

Calificación Fitch Ratings

Class A
Bond A: affirmed at A+(sf); Outlook Stable from Negative

TDA IBERCAJA 7

Calificación Standard and Poor's

Class A
Bond A: upgraded to BBB+(sf) from BBB(sf)

Class B
Bond B: affirmed at BB-(sf)

Class C
Bond C: affirmed at D(sf)

Calificación Moody's

Class A
Bond A: affirmed at Aa3(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Ba1(sf); placed under review for possible upgrade

MADRID CONSUMO II

Calificación Standard and Poor's

Class A
Bond A: affirmed at AA-(sf); Watch Negative

Calificación Moody's

Class A
Bond A: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade

MADRID FTPYME I

Calificación Standard and Poor's

Class A
Bond A1: downgraded to AA-(sf) from AAA(sf); removed from Watch Negative
Bond A2(G): downgraded to A(sf) from AA-(sf)

Calificación Moody's

Class A
Bond A2(G): upgraded to Aa2(sf) from A1(sf)

CAIXA PENEDES 2 TDA

Calificación Standard and Poor's

Class A
Bond A: affirmed at AA(sf)

Class B
Bond B: downgraded to A+(sf) from AA-(sf)

Class C
Bond C: downgraded to BB-(sf) from BBB(sf)

Calificación Moody's

Class A
Bond A: affirmed at A1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Baa3(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at B3(sf); placed under review for possible upgrade

MADRID RESIDENCIAL I

Calificación Standard and Poor's

Class A
Bond A: affirmed at A(sf)

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade

MADRID RESIDENCIAL II

Calificación Standard and Poor's

Class A
Bond A: affirmed at A(sf)

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade

TDA EMPRESAS 2

Calificación Standard and Poor's

Class A
Bond A: downgraded to BBB(sf) from A+(sf)

CEDULAS TDA 15

Calificación Standard and Poor's

Bond: downgraded to AA-(sf) from AA+(sf)

TDA IBERCAJA ICO-FTVPO

Calificación Standard and Poor's

Class A
Bond A(G): upgraded to AA(sf) from AA-(sf)

Class B
Bond B: affirmed at D(sf)

Calificación Moody's

Class A
Bond A(G): upgraded to Aa3(sf) from A1(sf)

TDA 31

Calificación Moody's

Class A
Bond A: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade

Class B
Bond B: affirmed at Baa3(sf); removed from placed under review for possible upgrade

Class C
Bond C: upgraded to B2(sf) from B3(sf); removed from placed under review for possible upgrade

Calificación Standard and Poor's

Class A
Bond A: affirmed at AA(sf); Watch Negative

Class B
affirmed at BBB(sf)

Class C
downgraded to CCC(sf) from BB-(sf)

UNICAJA TDA VPO

Calificación Moody's

Class A
Bond A: downgraded to Baa1(sf) from A3(sf); placed under review for possible downgrade

Calificación DBRS

Class A
Bond A: affirmed at A(high)(sf); under review negative

TDA IBERCAJA 6

Calificación Moody's

Class A
Bond A: affirmed at A1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Baa3(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at Ba3(sf); placed under review for possible upgrade

Class D
Bond D: upgraded to B3(sf) from Caa1(sf)

Calificación Standard and Poor's

Class A
Bond A: affirmed at BBB(sf)

Class B
Bond B: downgraded to BB(sf) from BBB(sf)

Class C
Bond C: downgraded to B(sf) from BBB-(sf)

Class D
Bond D: downgraded to B-(sf) from BB-(sf)

UNICAJA ANDALUCIA FTVIVIENDA

Calificación Moody's

Class A
Bond A1: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade
Bond A2(G): downgraded to Baa2(sf) from Baa1(sf); removed from placed under review for possible downgrade

Calificación DBRS

Class A
Bond A1: Not Rated from AAA(sf)
Bond A2(G): downgraded to A(high)(sf) from affirmed at AA(high)(sf); removed from under review negative

TDA EMPRESAS 1

Calificación Moody's

Class A
Bond A: downgraded to A3(sf) from Aa3(sf); placed under review for possible downgrade

Bond B: affirmed at B3(sf); placed under review for possible downgrade

TDA IBERCAJA 5

Calificación Standard and Poor's

Class A
Bond A1: downgraded to A+(sf) from AA-(sf)
Bond A2: downgraded to A-(sf) from AA-(sf)

Class B
Bond B: downgraded to BB(sf) from BB+(sf)

Class C
Bond C: affirmed at B(sf)

Class D
Bond D: affirmed at B-(sf)

Class E
Bond E: affirmed at D(sf)

Calificación Moody's

Class A
Bond A1: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond A2: affirmed at A1(sf); placed under review for possible upgrade

Class B
Bond B: affirmed at Ba2(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at Caa1(sf); placed under review for possible upgrade

Class D
Bond D: affirmed at Caa2(sf); removed from upgraded to Caa2(sf)

FTPYME TDA 7

Calificación Moody's

Class A
Bond A1: upgraded to Aa2(sf) from A1(sf)
Bond A2(CA): upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: affirmed at A1(sf)

Class C
Bond C: affirmed at Ba1(sf)

EMPRESAS TDA CAM 6

Calificación Moody's

Class A
Bond A1: downgraded to Aa1(sf) from Aaa(sf)
Bond A2: downgraded to Aa2(sf) from Aaa(sf)

Class B
Bond B: downgraded to Baa3(sf) from A3(sf)

Class C
Bond C: downgraded to Caa3(sf) from Ba3(sf)

FTPYME TDA CAM 7

Calificación Moody's

Class A
Bond A1: upgraded to Aa2(sf) from A1(sf)
Bond A2(CA): upgraded to Aa2(sf) from A1(sf)
Bond A3: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: upgraded to A2(sf) from Baa1(sf)

Class C
Bond C: affirmed at Ba3(sf)

Calificación DBRS

Class A
Bond A1: affirmed at A(high)(sf)
Bond A2(CA): affirmed at A(high)(sf)
Bond A3: affirmed at A(high)(sf)

TDA PASTOR 1

Calificación Moody's

Class A
Bond A1: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond A2: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade

Class B
Bond B: affirmed at Aa3(sf); placed under review for possible upgrade

Class C
Bond C: affirmed at Baa2(sf); placed under review for possible upgrade

Class D: Not rated

Calificación Fitch Ratings

Class A
Bond A1: upgraded to AA+(sf) from AA-(sf); Outlook Stable
Bond A2: upgraded to AA+(sf) from AA-(sf); Outlook Stable

Class B
Bond B: affirmed at A(sf); Outlook revised to Stable from Negative

Class C
Bond C: affirmed at BBB(sf); Outlook revised to Stable from Negative

Class D
Bond D: Not rated

TDA 17-Mixto

Calificación Moody's

Class 1
Bond A1: affirmed at A1(sf); placed under review for possible upgrade
Bond B1: affirmed at A3(sf); placed under review for possible upgrade

Class 2
Bond A2: affirmed at A1(sf); placed under review for possible upgrade
Bond B2: affirmed at A3(sf); placed under review for possible upgrade

CAJA INGENIEROS TDA 1

Calificación Moody's

Class A
Bond A2: upgraded to Aa2(sf) from A1(sf)

Class B
Bond B: upgraded to Aa2(sf) from A3(sf)

Class C
Bond C: upgraded to Aa3(sf) from Baa2(sf)

Calificación Fitch Ratings

Class A
Bond A2: upgraded to AA+(sf) from AA-(sf); Outlook Stable from Positive

Class B
Bond B: affirmed at AA-(sf); Outlook Stable

Class C
Bond C: affirmed at A(sf); Outlook Stable

MADRID FTPYME II

Calificación Moody's

Class A
Bond A1: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade
Bond A2(G): downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade

Calificación Standard and Poor's

Class A
Bond A1: downgraded to AA-(sf) from AA+(sf)
Bond A2(G): downgraded to AA-(sf) from AA+(sf)

TDA FTPYME PASTOR 9

Calificación Moody's

Class A
Bond A2(G): downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade

Class B
Bond B: affirmed at B2(sf); placed under review for possible downgrade

Calificación DBRS

Class A
Bond A2(G): affirmed at AAA(sf); removed from review for possible downgrade
Class B
Bond B: affirmed at B(low)(sf); removed from review for possible downgrade

MADRID ICO-FTVPO I

Calificación Moody's

Class A
Bond A(G): affirmed at A1(sf); placed under review for possible upgrade

Calificación Standard and Poor's

Class A
Bond A(G): affirmed at A(sf)

TDA 14-Mixto

Calificación Moody's

Class 1
Bond A3: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond B1: affirmed at Aa3(sf); placed under review for possible upgrade

Class 2
Bond ANC: upgraded to Aa2(sf) from A1(sf); removed from placed under review for possible upgrade
Bond BNC: upgraded to A1(sf) from Baa1(sf); removed from placed under review for possible upgrade

TDA 8

Calificación Moody's

Class A
Bond A: downgraded to Aa2(sf) from Aaa(sf)

TDA 12

Calificación Moody's

Class A
Bond A3: affirmed at A1(sf); removed from upgraded to A1(sf)

Class B
Bond B: upgraded to A1(sf) from Baa1(sf); removed from placed under review for possible upgrade

TDA CORPORATIVOS I

Calificación Moody's

Class A
Bond A: downgraded to A3(sf) from Aa2(sf); placed under review for possible downgrade

Class B
Bond B: downgraded to A3(sf) from A1(sf); placed under review for possible downgrade

DRIVER ESPAŃA ONE

Calificación Standard and Poor's

Class A: upgraded to AA(sf) from AA-(sf)

Class B: upgraded to AA(sf) from AA-(sf)

Calificación Fitch Ratings

Class A: affirmed at AA+(sf); Outlook Stable

Class B: upgraded to AA(sf) from A+(sf); removed from Outlook Stable

TDA UNICAJA 1

Calificación Fitch Ratings

Class A
Bond A: affirmed at AAA(sf); Outlook Stable; Assigned Loss Severity Rating 'LS-1'

Class B
Bond B: affirmed at A(sf); Outlook Stable; Assigned Loss Severity Rating 'LS-3'

Class C
Bond C: affirmed at BBB(sf); Outlook revised to Negative from Stable; Assigned Loss Severity Rating 'LS-3'

Class D
Bond D: downgraded to CC(sf) from CCC(sf); Assigned Recover Rating 'RR5'

TDA LICO LEASING III

Calificación Moody's

Bonds: affirmed at A3(sf); removed from placed under review for possible downgrade

Calificación DBRS

Bonds: affirmed at AAA(sf)

AUTO ABS 2012-3

Calificación Fitch Ratings

Class A: upgraded to AA+(sf) from AA(sf); Outlook Stable from Positive

PRIVATE DRIVER ESPAŃA 2013-1

Calificación Standard and Poor's

Class A: upgraded to AA(sf) from AA-(sf)

TDA CAM 10

Calificación Standard and Poor's

Class A
Bond A1: Not rated from AAA(sf)
Bond A2: downgraded to BB+(sf) from AA-(sf); removed from Watch Negative
Bond A3: downgraded to BB+(sf) from AA-(sf); removed from Watch Negative
Bond A4: downgraded to BB+(sf) from AA-(sf); removed from Watch Negative

Class B
Bond B: affirmed at CCC-(sf)

Class C
Bond C: affirmed at D(sf)

Class D
Bond D: affirmed at D(sf)

Calificación Moody's

Class A
Bond A1: Not rated from Aa1(sf)
Bond A2: downgraded to Baa3(sf) from Baa1(sf); removed from placed under review for possible downgrade
Bond A3: downgraded to Baa3(sf) from Baa1(sf); removed from placed under review for possible downgrade
Bond A4: downgraded to Baa3(sf) from Baa1(sf); removed from placed under review for possible downgrade

Class B
Bond B: downgraded to Caa2(sf) from B3(sf); removed from placed under review for possible downgrade

Class C
Bond C: downgraded to C(sf) from B3(sf)