AB Finco 2 (RF) Limited Transaction 2, Series 1 – GCR withdraws Notes’ ratings after their redemption in full
Johannesburg, 12 October 2021 – GCR Ratings (“GCR”) has withdrawn the short-term issue credit ratings of the Transaction 2, Series 1 Notes issued by AB Finco 2 (RF) Ltd following their redemption and payment in full on their Final Redemption Date of 5 October 2021.
Final Redemption Date
Senior Structured Finance Analyst
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Structured Finance Analyst
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Sector Head: Structured Finance Ratings
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Related Criteria and Research
Criteria for the GCR Ratings Framework – May ‘19
Criteria for Rating Structured Finance Transactions – September ‘18
Criteria for Rating Credit Linked Notes and Repackaging Vehicles – November ‘18
Criteria for Rating Financial Institutions – May ‘19
GCR Rating Scales Symbols and Definitions – May ‘19
Initial & Last
SALIENT POINTS OF ACCORDED RATINGS
GCR affirms that a.) no part of the rating was influenced by any other business activities of the credit rating agency; b.) the rating was based solely on the merits of the rated entity, securities or financial instruments being rated; and c.) such rating was an independent evaluation of the risks and merits of the rated entity, securities or financial instruments.
The credit rating has been disclosed to the Arranger. The ratings above were solicited by, or on behalf of, the Issuer and therefore, GCR is compensated for the provision of the ratings.
Information received from Absa Bank Limited to accord the credit ratings includes:
Confirmation of payment for redemption of Notes.
CREDIT RATINGS ISSUED AND RESEARCH PUBLICATIONS PUBLISHED BY GCR, ARE GCR’S OPINIONS, AS AT THE DATE OF ISSUE OR PUBLICATION THEREOF, OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. GCR DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL AND/OR FINANCIAL OBLIGATIONS AS THEY BECOME DUE. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: FRAUD, MARKET LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND GCR’S OPINIONS INCLUDED IN GCR’S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS AND GCR’S PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND CREDIT RATINGS AND GCR’S PUBLICATIONS ARE NOT AND DO NOT PROVIDE RECOMMENDATIONS TO PURCHASE, SELL OR HOLD PARTICULAR SECURITIES. NEITHER GCR’S CREDIT RATINGS, NOR ITS PUBLICATIONS, COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR ANY PARTICULAR INVESTOR. GCR ISSUES ITS CREDIT RATINGS AND PUBLISHES GCR’S PUBLICATIONS WITH THE EXPECTATION AND UNDERSTANDING THAT EACH INVESTOR WILL MAKE ITS OWN STUDY AND EVALUATION OF EACH SECURITY THAT IS UNDER CONSIDERATION FOR PURCHASE, HOLDING OR SALE.
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