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Dashboards exhibit key performance metrics related to Structured Finance transactions publicly rated by GCR, which include credit enhancement levels, excess spread, defaults, recoveries and covenants.
| Filename | 202406-Urban-Ubomi-1-RF-Ltd-Final-Rating-Report_Final.pdf |
| Filesize | 657.06 KB |
| Version | paid report |
| Date added | June 11, 2024 |
| Category | Credit Rating Reports, Structured Finance |
| Tags | South Africa |
GCR updated its analysis of the performance of TUHF’s portfolio to renew the base case inputs to its cash flow model. The data now covers the period July 2005 to January 2024. The extrapolated base case default rate has increased on the back of increased defaults in recent periods with credit for seasoning moderating this effect (default base case, current 13.78%; previous 12.99%). Nonetheless, the modelled default rates have not changed as these are based on covenanted obligor concentration levels which are slightly higher than the stressed default base cases derived from historical data.