First MBS for Former Soviet Republic

The first publicly rated residential mortgage-backed securities deal in Kazakhstan has come to market.The $141 million rated deal, Kazakh Mortgage-Backed Securities 2007-1 B.V., is a special purpose vehicle incorporated under the laws of the Netherlands, according to Moody's Investors Service. Moody's has assigned definitive ratings ranging from A3to Ba2 to the three rated classes in the transaction.

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