Pepper Residential Securities Trust No.19 Class A1-u2 Notes Assigned Rating; Two Classes Affirmed - S&P Global Ratings’ Credit Research

Pepper Residential Securities Trust No.19 Class A1-u2 Notes Assigned Rating; Two Classes Affirmed

Pepper Residential Securities Trust No.19 Class A1-u2 Notes Assigned Rating; Two Classes Affirmed - S&P Global Ratings’ Credit Research
Pepper Residential Securities Trust No.19 Class A1-u2 Notes Assigned Rating; Two Classes Affirmed
Published Oct 11, 2018
Published Oct 11, 2018
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About This Report

  
Abstract:

MELBOURNE (S&P Global Ratings) Oct. 12, 2018--S&P Global Ratings today assigned its 'A-1+ (sf)' rating to the class A1-u2 notes of nonconforming residential mortgage-backed securities (RMBS) issued by Permanent Custodians Ltd. as trustee of Pepper Residential Securities Trust No.19 (see list). At the same time, we affirmed our 'AAA (sf)' ratings on two classes of notes and withdrew our rating on the A1-u1 notes (see list). Pepper Residential Securities Trust No.19 is a securitization of nonconforming residential mortgages originated by Pepper HomeLoans Pty Ltd. (Pepper). The class A1-u2 notes, together with the balance of the redemption fund, have been applied to redeem the class A1-u1 notes on their final legal maturity date. The class A1-u2 notes are floating-rate hard-bullet notes

  
Report Type:

Ratings Action

Issuer
Pepper Residential Securities Trust No. 19
Sector
Structured Finance
Country
Region
Pacific
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Pepper Residential Securities Trust No.19 Class A1-u2 Notes Assigned Rating; Two Classes Affirmed" Oct 11, 2018. Alacra Store. Oct 15, 2018. <http://www.alacrastore.com/s-and-p-credit-research/Pepper-Residential-Securities-Trust-No-19-Class-A1-u2-Notes-Assigned-Rating-Two-Classes-Affirmed-2112722>
  
APA:
S&P Global Ratings’ Credit Research. (). Pepper Residential Securities Trust No.19 Class A1-u2 Notes Assigned Rating; Two Classes Affirmed Oct 11, 2018. New York, NY: Alacra Store. Retrieved Oct 15, 2018 from <http://www.alacrastore.com/s-and-p-credit-research/Pepper-Residential-Securities-Trust-No-19-Class-A1-u2-Notes-Assigned-Rating-Two-Classes-Affirmed-2112722>
  
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