FCT Orange Bank Personal Loans 2020 Assigned Ratings

We have assigned credit ratings to FCT Orange Bank Personal Loans 2020's class A and B asset-backed fixed-rate notes. The underlying collateral comprises French consumer unsecured personal loans distributed by Groupama S.A. or Amaline S.A. in its ordinary course of business. PARIS (S&P Global Ratings) Oct. 29, 2020--S&P Global Ratings today assigned its 'AAA (sf)' and 'AA (sf)' credit ratings to FCT Orange Bank Personal Loans 2020's class A and B asset-backed fixed-rate notes, respectively. At closing, the issuer also issued unrated class C notes. The issuer is a bankruptcy remote French securitization fund (a "Fonds Commun de Titrisation"; FCT). This will be Orange Bank S.A.'s (Orange Bank's) first publicly rated ABS transaction and the first that we rate. Orange

...- We have assigned credit ratings to FCT Orange Bank Personal Loans 2020's class A and B asset-backed fixed-rate notes. - The underlying collateral comprises French consumer unsecured personal loans distributed by Groupama S.A. or Amaline S.A. in its ordinary course of business. PARIS (S&P Global Ratings) Oct. 29, 2020--S&P Global Ratings today assigned its '### (sf)' and '## (sf)' credit ratings to FCT Orange Bank Personal Loans 2020's class A and B asset-backed fixed-rate notes, respectively. At closing, the issuer also issued unrated class C notes. The issuer is a bankruptcy remote French securitization fund (a "Fonds Commun de Titrisation"; FCT). This will be Orange Bank S.A.'s (Orange Bank's) first publicly rated ABS transaction and the first that we rate. Orange Bank, formerly Groupama Banque S.A., an established mutualist French banking group, is the originator and servicer in this transaction and is majority owned by Orange S.A., France's leading telecommunications company since...

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