MELBOURNE (S&P Global Ratings) May 13, 2025--S&P Global Ratings today assigned its 'AAA (sf)' rating to the class A notes issued by Perpetual Corporate Trust Ltd. as trustee of Metro Finance 2025-1 Trust. The notes are backed by a pool of commercial chattel mortgage loan and novated lease agreements backed by motor vehicles and wheeled and nonwheeled equipment originated by Metro Finance Pty Ltd. The rating assigned to the class A notes reflects the following factors. The credit risk of the underlying collateral portfolio and the credit support available are commensurate with the rating assigned. Credit support for the class A notes is provided in the form of subordination and excess spread, if any. All contract payments, including balloon payments,
