IDOL 2017-1 Trust Prime RMBS Assigned Preliminary Ratings - S&P Global Ratings’ Credit Research

IDOL 2017-1 Trust Prime RMBS Assigned Preliminary Ratings

IDOL 2017-1 Trust Prime RMBS Assigned Preliminary Ratings - S&P Global Ratings’ Credit Research
IDOL 2017-1 Trust Prime RMBS Assigned Preliminary Ratings
Published May 21, 2017
4 pages (1445 words) — Published May 21, 2017
Price US$ 150.00  |  Buy this Report Now

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Abstract:

MELBOURNE (S&P Global Ratings) May 22, 2017--S&P Global Ratings today assigned its preliminary ratings to five of the six classes of prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Corporate Trust Ltd. as trustee for IDOL 2017-1 Trust (see list). IDOL 2017-1 Trust is a securitization of prime residential mortgages originated by ING Bank (Australia) Ltd. The preliminary ratings are based on: Our view of the credit risk of the underlying collateral portfolio, including the fact that this is a closed portfolio, which means no further loans will be assigned to the trust after the closing date. Our view that the credit support is sufficient to withstand the stresses we apply. This credit support comprises note subordination and

  
Brief Excerpt:

...MELBOURNE (S&P Global Ratings) May 22, 2017--S&P Global Ratings today assigned its preliminary ratings to five of the six classes of prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Corporate Trust Ltd. as trustee for IDOL 2017-1 Trust (see list). IDOL 2017-1 Trust is a securitization of prime residential mortgages originated by ING Bank (Australia) Ltd. The preliminary ratings are based on: + Our view of the credit risk of the underlying collateral portfolio, including the fact that this is a closed portfolio, which means no further loans will be assigned to the trust after the closing date. + Our view that the credit support is sufficient to withstand the stresses we apply. This credit support comprises note subordination and lenders' mortgage insurance policies. + The benefit of a fixed-to-floating interest-rate swap provided by ING Bank N.V. (Sydney Branch) to hedge the mismatch between receipts from any fixed-rate mortgage loans and the variable-rate RMBS....

  
Report Type:

Ratings Action

Issuer
IDOL 2017-1 Trust
Sector
Structured Finance
Country
Region
Pacific
Format:
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "IDOL 2017-1 Trust Prime RMBS Assigned Preliminary Ratings" May 21, 2017. Alacra Store. Jan 28, 2022. <http://www.alacrastore.com/s-and-p-credit-research/IDOL-2017-1-Trust-Prime-RMBS-Assigned-Preliminary-Ratings-1853101>
  
APA:
S&P Global Ratings’ Credit Research. (). IDOL 2017-1 Trust Prime RMBS Assigned Preliminary Ratings May 21, 2017. New York, NY: Alacra Store. Retrieved Jan 28, 2022 from <http://www.alacrastore.com/s-and-p-credit-research/IDOL-2017-1-Trust-Prime-RMBS-Assigned-Preliminary-Ratings-1853101>
  
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