{"id":48700,"date":"2026-07-31T12:55:00","date_gmt":"2026-07-31T10:55:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=565b1d04b0ecd3cb4ef6739acbfa1963"},"modified":"2026-07-31T12:55:00","modified_gmt":"2026-07-31T10:55:00","slug":"kbra-releases-research-kbra-rated-european-rmbs-exposure-to-wildfires-in-spain-2","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=48700","title":{"rendered":"KBRA Releases Research \u2013 KBRA-Rated European RMBS Exposure to Wildfires in Spain"},"content":{"rendered":"<p>LONDON--(BUSINESS WIRE)--<a href=\"https:\/\/twitter.com\/hashtag\/creditratingagency?src=hash\" >#creditratingagency<\/a>--KBRA releases research assessing the potential exposure of KBRA-rated European residential mortgage-backed securities (RMBS) transactions to the ongoing wildfires in Spain. Spain is confronting an exceptionally severe wildfire season, with approximately 173,000 hectares burnt from the start of the year through 28 July, nearly six times the amount recorded over the same period in 2025. The three largest documented wildfire areas included in KBRA\u2019s review are located in Avila, Guadalajara, and Madrid, while other significant incidents have affected Toledo, Castellon, Valencia, and Almeria.<\/p><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260731212775\/en\/2865035\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260731212775\/en\/2865035\/22\/kbra-logo.jpg\" \/><\/a><br\/><a href=\"https:\/\/mms.businesswire.com\/media\/20260731212775\/en\/2865035\/5\/kbra-logo.jpg\"><img src=\"https:\/\/mms.businesswire.com\/media\/20260731212775\/en\/2865035\/21\/kbra-logo.jpg\" \/><\/a><p>\n<strong>Key Takeaways<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\nKBRA\u2019s postcode- and town-level review identified limited potential exposure in Madrid, Castellon, Cantabria, and Almeria. No exposure was identified in the larger Avila, Guadalajara, or Zaragoza wildfire areas.<\/li>\n<li>\nKBRA has outstanding ratings on eight Spanish RMBS transactions with an outstanding portfolio balance of EUR3.7 billion. Postcode- and town-level data were available for six transactions.<\/li>\n<li>\nAcross the six portfolios with postcode- and town-level data (representing a combined closing or current balance of EUR2.4 billion), the estimated exposure to the seven documented ongoing wildfire-affected areas is minimal, at 0.5% of the combined collateral balance outstanding (EUR12.5 million).<\/li>\n<li>\nFor the two transactions that do not provide postcode- and town-level data, concentrations in Madrid are 11.3% and 13%, respectively, while concentrations in Castilla y Leon and Castilla-La Mancha are each below 4%. These concentrations are broadly comparable with those of the six portfolios included in the more granular review, and the proportion of each pool located in the specific wildfire-affected localities is likely to be significantly more\u00a0limited.<\/li>\n<li>\nAcross all eight portfolios, concentrations by autonomous community and province remain broadly diversified. The Madrid province represents the largest concentration.<\/li>\n<\/ul><p>\nClick <a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FYLLVKRMg&amp;esheet=54580529&amp;newsitemid=20260731212775&amp;lan=en-US&amp;anchor=here&amp;index=1&amp;md5=c0e8352cb0996a42e193043f1e1356fe\" rel=\"nofollow\" shape=\"rect\">here<\/a> to view the report.<\/p><p>\n<strong>Related Publications<\/strong><\/p><ul class=\"bwlistsquare\">\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FyJPzhKfH%2Fkbra-rated-european-cmbs-exposure-to-wildfires-in-spain-and-france&amp;esheet=54580529&amp;newsitemid=20260731212775&amp;lan=en-US&amp;anchor=KBRA-Rated+European+CMBS+Exposure+to+Wildfires+in+Spain+and+France&amp;index=2&amp;md5=17af4a7e2779fa4270f71d4ce5f793a7\" rel=\"nofollow\" shape=\"rect\">KBRA-Rated European CMBS Exposure to Wildfires in Spain and France<\/a><\/li>\n<li>\n<a  href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.kbra.com%2Fpublications%2FnmMWLhvb%2Fspanish-rpl-rmbs-resilient-performance-and-an-established-asset-class&amp;esheet=54580529&amp;newsitemid=20260731212775&amp;lan=en-US&amp;anchor=Spanish+RPL+RMBS%3A+Resilient+Performance+and+an+Established+Asset+Class&amp;index=3&amp;md5=43322804bf047d350bbcb32cd665f404\" rel=\"nofollow\" shape=\"rect\">Spanish RPL RMBS: Resilient Performance and an Established Asset Class<\/a><\/li>\n<\/ul><p>\n<strong>About KBRA<\/strong><\/p><p>\nKBRA, one of the major credit rating agencies, is registered in the U.S., EU, and the UK. KBRA is recognized as a Qualified Rating Agency in Taiwan, and is also a Designated Rating Organization for structured finance ratings in Canada. As a full-service credit rating agency, investors can use KBRA ratings for regulatory capital purposes in multiple jurisdictions.<\/p><p>\nDoc ID: 1016272<\/p><br\/> <b>Contacts<\/b> <br\/><p>\nKali Sirugudi, Managing Director\n<br\/>+44 20 8148 1050\n<br\/><a  href=\"mailto:kali.sirugudi@kbra.com\" rel=\"nofollow\" shape=\"rect\">kali.sirugudi@kbra.com<\/a><\/p><p>\nHrishikesh Oturkar, Director\n<br\/>+44 20 8148 1070\n<br\/><a  href=\"mailto:hrishikesh.oturkar@kbra.com\" rel=\"nofollow\" shape=\"rect\">hrishikesh.oturkar@kbra.com<\/a><\/p><p>\n<strong>Media Contact<\/strong><\/p><p>\nMatt Turner, Associate Director\n<br\/>+353 1 588 1231\n<br\/><a  href=\"mailto:matt.turner@kbra.com\" rel=\"nofollow\" shape=\"rect\">matt.turner@kbra.com<\/a><\/p><p>\n<strong>Business Development Contact<\/strong><\/p><p>\nMiten Amin, Managing Director\n<br\/>+44 20 8148 1002\n<br\/><a  href=\"mailto:miten.amin@kbra.com\" rel=\"nofollow\" shape=\"rect\">miten.amin@kbra.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>LONDON&#8211;(BUSINESS WIRE)&#8211;#creditratingagency&#8211;KBRA releases research assessing the potential exposure of KBRA-rated European residential mortgage-backed securities (RMBS) transactions to the ongoing wildfires in Spain. Spain is confronting an exception&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-48700","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/48700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=48700"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/48700\/revisions"}],"predecessor-version":[{"id":48702,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/48700\/revisions\/48702"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=48700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=48700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=48700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}