Progress 2018-1 Trust Class A-R Notes Assigned Preliminary Rating - S&P Global Ratings’ Credit Research

Progress 2018-1 Trust Class A-R Notes Assigned Preliminary Rating

Progress 2018-1 Trust Class A-R Notes Assigned Preliminary Rating - S&P Global Ratings’ Credit Research
Progress 2018-1 Trust Class A-R Notes Assigned Preliminary Rating
Published Apr 04, 2024
4 pages (1594 words) — Published Apr 04, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

MELBOURNE (S&P Global Ratings) April 4, 2024--S&P Global Ratings today assigned its preliminary rating to the class A-R prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Trustee Co. Ltd. as trustee for Progress 2018-1 Trust (see list). Progress 2018-1 Trust is a securitization of prime residential mortgages originated by AMP Bank Ltd. We have assigned the preliminary rating in anticipation of the refinancing of the existing class A notes with class A-R notes. The assigned preliminary rating reflects: Perpetual Trustee Co. issuing an expected A$162 million in class A-R notes. Our view of the credit risk of the underlying collateral portfolio. As of Feb. 29, 2024, the pool's current weighted-average loan-to-value ratio is 54.6% and weighted-average seasoning is

  
Brief Excerpt:

...AUSTRALIA S&P Global Ratings Australia Pty Ltd holds Australian financial services license number 337565 under the Corporations Act 2001. S&P Global Ratings' credit ratings and related research are not intended for and must not be distributed to any person in Australia other than a wholesale client (as defined in Chapter 7 of the Corporations Act)....

  
Report Type:

Ratings Action

Issuer
Progress 2018-1 Trust
Sector
Structured Finance
Country
Australia
Region
Pacific
Format:
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Progress 2018-1 Trust Class A-R Notes Assigned Preliminary Rating" Apr 04, 2024. Alacra Store. Apr 29, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Progress-2018-1-Trust-Class-A-R-Notes-Assigned-Preliminary-Rating-3148186>
  
APA:
S&P Global Ratings’ Credit Research. (). Progress 2018-1 Trust Class A-R Notes Assigned Preliminary Rating Apr 04, 2024. New York, NY: Alacra Store. Retrieved Apr 29, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Progress-2018-1-Trust-Class-A-R-Notes-Assigned-Preliminary-Rating-3148186>
  
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