MELBOURNE (S&P Global Ratings) May 20, 2025--S&P Global Ratings today assigned its preliminary ratings to eight classes of nonconforming and prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Corporate Trust Ltd. as trustee of MA Money Residential Securitisation Trust 2025-1 (see list). MA Money Residential Securitisation Trust 2025-1 is a securitization of nonconforming and prime residential mortgages originated by MA Money Financial Services Pty Ltd. (MA Money). The preliminary ratings we have assigned to the floating-rate RMBS reflect the following factors. The credit risk of the underlying collateral portfolio and the credit support provided to each class of notes are commensurate with the ratings assigned. Note subordination and excess spread provide credit support. Our assessment of credit risk
