GCR publishes Structured Finance performance monitoring Dashboards for Auto Loan-Backed Securitisation transactions.
31 July 2019 – GCR
Ratings (“GCR”) has published Structured Finance performance monitoring Dashboards
for the publicly rated Auto Loan-Backed Securitisation transactions listed
below. The Dashboard reports are available for download at https://gcrresearch.com/reports/house/monitoring-updates.
Mmela Mobility Finance (RF) Ltd
Securitisation 6 (RF) Ltd
are part of Structured Finance’s process of monitoring the performance of the
transactions rated by GCR, i.e. among others, the available credit enhancement,
excess spread, defaults, recoveries and covenants. Significant or continuous deterioration in
performance may trigger rating action. GCR updates the Dashboards at least on a
Structured Finance Analyst
+27 11 784 1771
Sector head: Structured Finance
+27 11 784 1771
Related Criteria and Research
Global Master Structured Finance
Rating Criteria, Sep’ 2018
Global Consumer Asset Backed
Securitisation (ABS) Rating Criteria, Sep’ 2018
Note that GCR is not a legal, tax or
financial adviser, and only provides a credit opinion of the rated securities.
For example, a rating does not cover a potential change in laws nor can it be
regarded as an audit. Moreover, GCR is not a party to the transaction
documents. Users of GCR’s credit ratings should familiarise themselves with the
transaction (including the legal opinion), and should form their own views in
this respect. Users should not rely on GCR for legal, tax or financial advice,
and are encouraged to contact relevant advisers.
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.