Progress 2018-1 Trust Class A-R Notes Assigned Rating; Three Classes Affirmed - S&P Global Ratings’ Credit Research

Progress 2018-1 Trust Class A-R Notes Assigned Rating; Three Classes Affirmed

Progress 2018-1 Trust Class A-R Notes Assigned Rating; Three Classes Affirmed - S&P Global Ratings’ Credit Research
Progress 2018-1 Trust Class A-R Notes Assigned Rating; Three Classes Affirmed
Published Apr 10, 2024
4 pages (1665 words) — Published Apr 10, 2024
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

MELBOURNE (S&P Global Ratings) April 11, 2024--S&P Global Ratings today assigned its 'AAA (sf)' rating to the class A-R prime residential mortgage-backed securities (RMBS) issued by Perpetual Trustee Co. Ltd. as trustee for Progress 2018-1 Trust. At the same time, we affirmed our ratings on three note classes and withdrew our rating on one class of notes (see list). Progress 2018-1 Trust is a securitization of prime residential mortgages originated by AMP Bank Ltd. We have assigned the rating in anticipation of the refinancing of the existing class A notes with class A-R notes. The rating actions reflect: Perpetual Trustee Co. issuing an expected A$162 million in class A-R notes. Our view of the credit risk of the underlying collateral

  
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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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Progress 2018-1 Trust Class A-R Notes Assigned Rating; Three Classes Affirmed" Apr 10, 2024. Alacra Store. Apr 29, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Progress-2018-1-Trust-Class-A-R-Notes-Assigned-Rating-Three-Classes-Affirmed-3151225>
  
APA:
S&P Global Ratings’ Credit Research. (). Progress 2018-1 Trust Class A-R Notes Assigned Rating; Three Classes Affirmed Apr 10, 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-Rating-Three-Classes-Affirmed-3151225>
  
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