Credit ratings provide a useful comparison when comparing fixed income products, however, it is important to step past the simplistic final grading and understand what a credit rating actually means
![norway norway](https://thewire.blob.core.windows.net/web/images/default-source/default-album/norway.png?sfvrsn=e518b05a_0)
With structured financial products like Residential Mortgage Backed Securities (RMBS) often trading at wide premiums to equivalently rated corporate paper, to understand their quality and potential relative value, we need to examine what their ratings are telling us.
This article will step you through the basic process ratings agencies apply. The Pepper Residential Securities Trust No. 12 is used as an example to show the substantial amounts of housing market stress that even sub investment grade RMBS are designed to withstand.
How do the ratings agencies assess RMBS?
At the heart of RMBS structures are a pool of mortgages. Accordingly, in its simplest form, the maximum amount of loss that an RMBS structure can experience is equal to the proportion of these mortgages which default, multiplied by the average loss on each property when sold.
Because of this, the ratings agencies define a level of housing market stress to correspond to each rating level and see what level of foreclosures and losses a given pool of mortgages would expect to experience.
In order to do this, they:
- Define the expected losses that a standard portfolio would suffer under each rating’s corresponding level of housing market stress.
- Compare how the mortgage pool for this RMBS structure differs from the standard portfolio, and adjust the expected foreclosure frequencies and loss severities accordingly.
What are the levels of stress?
To establish the levels of stress associated with each rating, the ratings agencies make assumptions about a standard portfolio of loans. These assumptions relate to borrowers’ credit histories, property and loan characteristics and past performance[1]. Then by analysing historical levels of losses for similar loans, they derive expected performance under stress scenarios. Table 1 shows the expected levels of stress and resulting losses that would arise for an individual loan under each of Standard and Poor’s ratings:
![](data:image/png;base64,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)
This table makes it clear how tough these ratings are, with an AAA rating designed to be able to withstand a 45% drop in market values, and even a B rating being designed to withstand a 30% drop.
How do they adjust for different mortgage pools?
The standard mortgage portfolio is quite idealised and, in reality, most mortgage pools underlying RMBS structures differ from them a lot. Accordingly, the ratings agencies adjust their expected default frequencies and costs of sale for each loan depending on its characteristics.
For example, by observing that the likelihood of default is strongly correlated with a mortgage’s loan to value ratio (LVR, or the percentage of the value of the property which has been borrowed), they alter their expectations depending on each loan as shown in Table 2. Note that the standard portfolio consists of mortgages with an LVR of 75%; accordingly, its adjustment factor is flat.
![](data:image/png;base64,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)
They continue this process for each of the characteristics of loans in the standard portfolio (some affecting default frequency, some affecting costs of sale) and aggregate the adjustments.
For example, in the Pepper Residential Securities Trust No. 12 (PRS 12), Standard and Poor’s applied the adjustments shown below in Table 3.
![](data:image/png;base64,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)
By aggregating the changes in Table 3, Table 4 shows the final expected loss levels for PRS 12’s pool of mortgages at each rating.
![](data:image/png;base64,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)
How do they rate each tranche?
RMBS consist of a pool of mortgages which service a tiered liability structure, whereby investors on the lowest rung earn a higher rate of interest in return for absorbing losses first. This serves to protect investors at the top of the structure. How much of a pool’s losses are felt by investors depends on where they sit in the capital structure.
Ratings agencies look at the expected loss percentage for each rating level and compare this to the amount of support investors in each tranche have underneath them. For example, Table 5 shows the ratings outcomes for PRS 12.
![](data:image/png;base64,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)
Conclusion
Ratings provide a tool for easy comparisons between different “credits”, however it’s often difficult to identify exactly what they mean. One of the useful things about RMBS is that by virtue of their clearly defined underlying asset pools, we can tell exactly what a rating means.
For RMBS, AAA isn’t just an obscure designation: it means that a security can be expected to withstand a 45% market value decline for each of the underlying mortgages. Further, because the adjustment factors are defined so declaratively, if you disagree with any of the assumptions, it’s easy to adjust them for yourself and develop your own view.
Given the poor performance of some RMBS structures in the United States in recent years, we believe that since recalibrating their models in 2011 and 2012, RMBS ratings in Australia are very conservative. Moreover, given the considerable market value declines that predicate even a single ‘B’ rating level of stress, the ratings process further highlights the robustness of RMBS as a defensive asset class.
[1] For more information on the standard portfolio, refer to the ratings agencies methodologies:
Standard and Poor’s, 2 September 2011, Criteria: Structured Finance: RMBS: Australian RMBS Rating Methodology and Assumptions