NEW YORK, Sept. 29, 2015 /PRNewswire/ -- Morningstar Credit Ratings, LLC today assigned preliminary ratings to one class of residential notes from GSMSC Resecuritization Trust 2015-7R (GSMSC 2015-7R) and one class of residential notes from GSMSC Resecuritization Trust 2015-8R (GSMSC 2015-8R), resecuritizations of previously issued residential mortgage-backed securities (RMBS). The ratings are based on information known to Morningstar as of Sept. 29, 2015.



    GSMSC 2015-7R Preliminary Ratings (as of Sept. 29, 2015)


    Class                                                    Balance/Notional Amount ($) Morningstar Preliminary Rating


    Class A Notes                                                             42,355,000                               A

    Class B Certificates                                                      44,439,040                              NR



    NR - Not Rated

The collateral backing the GSMSC 2015-7R transaction consists of a previously issued RMBS backed by seasoned subprime and second lien residential mortgages. The rating of the Class A notes reflects the credit enhancement provided by the Class B certificates and the quality of the underlying assets. Morningstar did not rate the Class B certificates. The principal balance of the Class B certificates represents the amount of overcollateralization with respect to the Class A notes. The initial principal balance of the Class B certificates is approximately 51.20 percent of the aggregate principal balance of the underlying securities, as of their distribution dates in August 2015.



    GSMSC 2015-8R Preliminary Ratings (as of Sept. 29, 2015)


    Class                                                    Balance/Notional Amount ($) Morningstar Preliminary Rating


    Class A Notes                                                             34,035,000                               A

    Class B Certificates                                                      64,049,970                              NR



    NR - Not Rated

The collateral backing the GSMSC 2015-8R transaction consists of a previously issued RMBS backed by seasoned subprime and second lien residential mortgages. The rating of the Class A notes reflects the credit enhancement provided by the Class B certificates and the quality of the underlying assets. Morningstar did not rate the Class B certificates. The principal balance of the Class B certificates represents the amount of overcollateralization with respect to the Class A notes. The initial principal balance of the Class B certificates is approximately 65.30 percent of the aggregate principal balance of the underlying securities, as of their distribution dates in August 2015.

Morningstar's Preliminary Analysis Packages, including the Ratings Bulletin; Rule 17g-7 Disclosures and Certification; and the Representations, Warranties, and Enforcement Mechanisms, are available under the RMBS tab in the Ratings Reports section at https://ratingagency.morningstar.com.

About Morningstar Credit Ratings, LLC and Morningstar, Inc.
Morningstar Credit Ratings, LLC is a Nationally Recognized Statistical Rating Organization (NRSRO) offering a wide array of services including new-issue ratings and analysis, operational risk assessments, surveillance services, data, and technology solutions.

Morningstar Credit Ratings, LLC is a subsidiary of Morningstar, Inc. (NASDAQ: MORN), a leading provider of independent investment research in North America, Europe, Australia, and Asia.

Morningstar, Inc. offers an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement and management as of June 30, 2015. The company has operations in 27 countries.

Morningstar, Inc. is not an NRSRO and does not issue NRSRO credit ratings.

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SOURCE Morningstar, Inc.