Preliminary Ratings Assigned To ABS Deal Trafigura Securitisation Finance's Series 2014-1 Medium-Term Notes

OVERVIEW We have assigned preliminary ratings to Trafigura Securitisation Finance's series 2014-1 medium-term notes. The transaction securitizes a pool of trade receivables originated by Trafigura Beheer B.V., Trafigura Pte. Ltd., and Trafigura AG. This will be Trafigura's third trade-receivables-backed medium-term note issuance. These preliminary ratings do not affect our outstanding ratings on Trafigura's existing notes. MILAN (Standard&Poor's) Oct. 15, 2014--Standard&Poor's Ratings Services today assigned its preliminary credit ratings to Trafigura Securitisation Finance PLC's (TSF) $300 million asset-backed floating-rate series 2014-1 notes (see list below). The assigning of these preliminary ratings to the series 2014-1 medium-term notes (MTNs) does not affect our outstanding 'AAA (sf)' and 'BBB (sf)' ratings on the existing series 2012-1 MTNs and variable-funding

...OVERVIEW + We have assigned preliminary ratings to Trafigura Securitisation Finance's series 2014-1 medium-term notes. + The transaction securitizes a pool of trade receivables originated by Trafigura Beheer B.V., Trafigura Pte. Ltd., and Trafigura AG. + This will be Trafigura's third trade-receivables-backed medium-term note issuance. + These preliminary ratings do not affect our outstanding ratings on Trafigura's existing notes. MILAN (Standard & Poor's) Oct. 15, 2014--Standard & Poor's Ratings Services today assigned its preliminary credit ratings to Trafigura Securitisation Finance PLC's (TSF) $300 million asset-backed floating-rate series 2014-1 notes (see list below). The assigning of these preliminary ratings to the series 2014-1 medium-term notes (MTNs) does not affect our outstanding '### (sf)' and '### (sf)' ratings on the existing series 2012-1 MTNs and variable-funding notes (VFNs). RATING RATIONALE The preliminary ratings reflect our assessment of the following factors....

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