Fitch Ratings has assigned and subsequently withdrawn a point-in-time rating for Freddie Mac WI Certificates, Series WI-K157 as follows.
RATING ACTIONS
Entity / Debt
Rating
Prior
WI Certificates, Series WI-K157
A-2 3137HA4N3
LT
AAAsf
New Rating
A-2 3137HA4N3
LT
WDsf
Withdrawn
AAAsf
A-M 3137HA4P8
LT
NRsf
New Rating
NR(EXP)sf
Page
of 1
VIEW ADDITIONAL RATING DETAILS
Fitch does not rate the following class:
The rating on class A-2 is a point-in-time rating based on information available to Fitch as of
Transaction Summary
The WI certificates represent the beneficial ownership interest in the trust, primary assets of which will be cash assets related to each class of WI certificates and right to performance of
After the subsequent transfer date, payments received on each corresponding SPC class will be passed through to the holders of the related WI certificates. If
Fitch has withdrawn the rating on class A-2 because it is a point-in-time rating and will not be monitored on an ongoing basis by Fitch.
KEY RATING DRIVERS
Linkage to Public Rating: The point-in-time rating and Rating Watch of the class A-2 certificates are directly linked to the rating and Rating Watch of
Neither the RWN on
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative Rating Action/Downgrade
Negative rating sensitivities do not apply because the rating has been withdrawn.
Factors that Could, Individually or Collectively, Lead to Positive Rating Action/Upgrade
Positive rating sensitivities do not apply because the rating has been withdrawn.
Best/Worst Case Rating Scenario
International scale credit ratings of Structured Finance transactions have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of seven notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of seven notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from 'AAAsf' to 'Dsf'. Best- and worst-case scenario credit ratings are based on historical performance. For more information about the methodology used to determine sector-specific best- and worst-case scenario credit ratings, visit https://www.fitchratings.com/site/re/10111579.
USE OF THIRD PARTY DUE DILIGENCE PURSUANT TO SEC RULE 17G -10
Form ABS Due Diligence-15E was not provided to, or reviewed by, Fitch in relation to this rating action.
REFERENCES FOR SUBSTANTIALLY MATERIAL SOURCE CITED AS KEY DRIVER OF RATING
The principal sources of information used in the analysis are described in the Applicable Criteria.
PUBLIC RATINGS WITH CREDIT LINKAGE TO OTHER RATINGS
The rating and Rating Watch of the A-2 certificates is directly linked to the rating and Rating Rating Watch of
REPRESENTATIONS, WARRANTIES AND ENFORCEMENT MECHANISMS
A description of the transaction's representations, warranties and enforcement mechanisms (RW&Es) that are disclosed in the offering document and which relate to the underlying asset pool was not prepared for this transaction. Offering Documents for this market sector typically do not include RW&Es that are available to investors and that relate to the asset pool underlying the trust. Therefore, Fitch credit reports for this market sector will not typically include descriptions of RW&Es. For further information, please see Fitch's Special Report titled 'Representations, Warranties and Enforcement Mechanisms in Global Structured Finance Transactions'.
ESG Considerations
Unless otherwise disclosed in this section, the highest level of ESG credit relevance is a score of '3'. This means ESG issues are credit-neutral or have only a minimal credit impact on the entity, either due to their nature or the way in which they are being managed by the entity. For more information on Fitch's ESG Relevance Scores, visit www.fitchratings.com/esg.
Additional information is available on www.fitchratings.com
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