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B&B's Woes Leave Its Deals Gasping for Aire: Rating agency downgrades hit after the company's rights issue fails

The recent downgrade of U.K. mortgage lender Bradford & Bingley has resulted in the breach of some triggers of its Aire Valley securitization master trust. The negative rating action could threaten certain replenishing or management provisions of the RMBS master trust. All three rating agencies have downgraded the lender following...

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