Ratings Class Prelim. rating Prelim. class size (%) A AAA (sf) 83.25 B-Dfrd AA+ (sf) 4.50 C-Dfrd A+ (sf) 3.75 D-Dfrd BBB (sf) 2.75 E-Dfrd BB- (sf) 2.25 F-Dfrd B- (sf) 2.00 Z NR 1.50 RFN NR 1.50 NR--Not rated. We have assigned our preliminary credit ratings to Ironwood Residential 2026-1 PLC's class A notes and class B-Dfrd to F-Dfrd interest deferrable notes. Ironwood Residential 2026-1 is an RMBS transaction that contains 4,605 nonconforming residential mortgage loans secured by properties across the U.K. The pool predominantly comprises legacy mortgage loans originated before 2008. LONDON (S&P Global Ratings) Nov. 3, 2026--S&P Global Ratings has assigned preliminary credit ratings to Ironwood Residential 2026-1 PLC's (Ironwood Residential 2026-1) class A notes and
