...+ S&P Global Ratings today affirmed its '### (sf)' credit rating on Temese Funding 2 PLC's (Temese 2) class A notes. Previously, we had affirmed our rating on the class A notes following the May 11, 2017, restructuring of the transaction. + As part of the most recent restructuring, the revolving period has been increased to March 2025. Certain changes have also been made to the eligibility criteria and interim amortization events. The back-up servicer and standby cash bond administrator have also been changed to Investec Bank PlC and HSBC Bank PlC, respectively. The unrated subordinated notes' issuance amount remains unchanged at ú130 million. + We initially rated Temese 2 in November 2014 (see "New Issue: Temese Funding 2 PLC," published on Nov. 14, 2014). The transaction is backed by a portfolio of U.K. receivables from equipment leasing and hire purchase contracts that Investec Asset Finance either originated or acquired through its broker network. The revolving portfolio also includes...
