London Wall Mortgage Capital PLC's Series Fleet 2021-01 Ratings Raised On Five Classes Of Notes; One Class Affirmed

Following our review of London Wall Mortgage Capital PLC's Series Fleet 2021-01, we raised our ratings on the class B-Dfrd to X-Dfrd notes. At the same time, we affirmed our rating on the class A notes. The transaction is backed by a pool of buy-to-let mortgage loans secured on properties in the England and Wales. LONDON (S&P Global Ratings) May 25, 2022--S&P Global Ratings today raised its credit ratings on London Wall Mortgage Capital PLC's Series Fleet 2021-01's class B-Dfrd notes to 'AA+ (sf)' from 'AA- (sf)', C-Dfrd notes to 'AA (sf)' from 'A (sf)', Z1-Dfrd notes to 'AA- (sf)' from 'BBB+ (sf)', Z2-Dfrd notes to 'BBB+ (sf)' from 'BB+ (sf)', and X-Dfrd notes to 'BB (sf)' from 'B- (sf)'.

...- Following our review of London Wall Mortgage Capital PLC's Series Fleet 2021-01, we raised our ratings on the class B-Dfrd to X-Dfrd notes. - At the same time, we affirmed our rating on the class A notes. - The transaction is backed by a pool of buy-to-let mortgage loans secured on properties in the England and Wales. LONDON (S&P Global Ratings) May 25, 2022--S&P Global Ratings today raised its credit ratings on London Wall Mortgage Capital PLC's Series Fleet 2021-01's class B-Dfrd notes to '##+ (sf)' from '##- (sf)', C-Dfrd notes to '## (sf)' from 'A (sf)', Z1-Dfrd notes to '##- (sf)' from '###+ (sf)', Z2-Dfrd notes to '###+ (sf)' from '##+ (sf)', and X-Dfrd notes to '## (sf)' from 'B- (sf)'. At the same time, we affirmed our '### (sf)' rating on the class A notes. Today's rating actions reflect the transaction's consistent stable credit performance and the paydown of the class X-Dfrd notes since closing in May 2021. Our credit and cash flow results indicate that the available credit...

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