...Standard & Poor's Ratings Services has assigned its credit ratings to Temese Funding 2 PLC's class A asset-backed fixed-rate notes. At closing, Temese Funding 2 also issued unrated class B notes. The transaction has a prefunding period of six months and a revolving period of four years. Temese Funding 2 securitizes a revolving portfolio of U.K. receivables from equipment leasing and hire purchase contracts that Investec Asset Finance PLC either originated or acquired through its broker network. The receivables are located in England, Wales, and Scotland. The portfolio is relatively geographically diversified across the U.K. The issuer can purchase further eligible receivables during the four year revolving period, as long as no early termination events occur. Investec Asset Finance acts as originator, seller, and servicer. It provides asset and loan finance to U.K. businesses, including small and midsize enterprises (SMEs), corporates, and professional practices. It originates British pound...
