OVERVIEW The performance of Trafigura Securitisation Finance program's underlying trade receivables has been strong since closing. We have therefore affirmed our ratings on Trafigura Securitisation Finance's senior and junior variable funding notes, as well as the class A and B notes in series 2012-1. Trafigura Beheer, Trafigura Pte Ltd. (Singapore), and Trafigura AG originated the program's underlying trade receivables. The same collateral pool backs series 2012-1 and the VFN. LONDON (Standard&Poor's) Dec. 11, 2013--Standard&Poor's Ratings Services today affirmed its credit ratings on Trafigura Securitisation Finance PLC's senior and junior variable funding notes (VFN), as well as the class A and B notes in series 2012-1 (see list below). The Trafigura Securitisation Finance program securitizes a pool