IDOL 2017-1 Trust Ratings Raised On Three Note Classes; Two Affirmed - S&P Global Ratings’ Credit Research

IDOL 2017-1 Trust Ratings Raised On Three Note Classes; Two Affirmed

IDOL 2017-1 Trust Ratings Raised On Three Note Classes; Two Affirmed - S&P Global Ratings’ Credit Research
IDOL 2017-1 Trust Ratings Raised On Three Note Classes; Two Affirmed
Published Oct 20, 2021
4 pages (1701 words) — Published Oct 20, 2021
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

MELBOURNE (S&P Global Ratings) Oct. 20, 2021--S&P Global Ratings today raised its ratings on three classes of notes of prime residential mortgage-backed securities (RMBS) issued by Perpetual Corporate Trust Ltd. as trustee of the IDOL 2017-1 Trust. At the same time, we affirmed our ratings on two classes of notes issued out of the same trust (see list). The rating actions reflect our view of the credit support available, which is sufficient to withstand the stresses we apply. Credit support comprises note subordination for all rated notes, lenders' mortgage insurance on 11.73% of the loan pool, and excess spread, if any. The overall credit quality of the underlying collateral pool, which as of Aug. 31, 2021, has a pool factor

  
Brief Excerpt:

...October 20, 2021 MELBOURNE (S&P Global Ratings) Oct. 20, 2021--S&P Global Ratings today raised its ratings on three classes of notes of prime residential mortgage-backed securities (RMBS) issued by Perpetual Corporate Trust Ltd. as trustee of the IDOL 2017-1 Trust. At the same time, we affirmed our ratings on two classes of notes issued out of the same trust (see list). The rating actions reflect our view of the credit support available, which is sufficient to withstand the stresses we apply. Credit support comprises note subordination for all rated notes, lenders' mortgage insurance on 11.73% of the loan pool, and excess spread, if any. The overall credit quality of the underlying collateral pool, which as of Aug. 31, 2021, has a pool factor of 27.6%, continues to improve, with weighted-average seasoning of 72.3 months and a current weighted-average loan-to-value ratio of 46.5%. These positive factors reduce our expectation of loss. The pool displays good asset performance, having tracked...

  
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 Ratings Raised On Three Note Classes; Two Affirmed" Oct 20, 2021. Alacra Store. Nov 30, 2021. <http://www.alacrastore.com/s-and-p-credit-research/IDOL-2017-1-Trust-Ratings-Raised-On-Three-Note-Classes-Two-Affirmed-2740623>
  
APA:
S&P Global Ratings’ Credit Research. (). IDOL 2017-1 Trust Ratings Raised On Three Note Classes; Two Affirmed Oct 20, 2021. New York, NY: Alacra Store. Retrieved Nov 30, 2021 from <http://www.alacrastore.com/s-and-p-credit-research/IDOL-2017-1-Trust-Ratings-Raised-On-Three-Note-Classes-Two-Affirmed-2740623>
  
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