NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases an updated report detailing exposure in outstanding KBRA-rated RMBS transactions to loans originated by Sterling Bank & Trust, FSB. The report is in response to Sterling’s announcement via an SEC form 8-K filing on March 6, which provided additional details regarding internal and external investigations, employee terminations and resignations, as well as the disclosure that Sterling has no intention of resuming the loan program at issue.
To access ratings, reports and disclosures, click here.
- RMBS Exposure Report: Sterling Bank & Trust, FSB
- KBRA Downgrades Ratings for Sterling Bancorp, Inc. (Southfield, MI) and Places Ratings on Watch Downgrade
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KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider, and is a certified Credit Rating Agency (CRA) by the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA.
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