Preliminary Ratings Assigned To SMHL Securitisation Fund 2010-1 RMBS Mar 10
- ID: 1886757
- March 2010
- Standard & Poors
OVERVIEW SMHL Securitisation Fund 2010-1 is a securitization of prime residential mortgages originated by Members Equity Bank Pty Ltd. We have assigned preliminary ratings to the three classes of bonds to be issued by Perpetual Ltd. as trustee for SMHL Securitisation Fund 2010-1. The preliminary ratings reflect our opinion of the transaction's credit support, collateral pool, servicer, and other features based on our current criteria and assumptions. MELBOURNE (Standard & Poor's) March 3, 2010--Standard & Poor's Ratings Services today assigned its preliminary ratings to the three classes of prime residential mortgage-backed securities (RMBS) to be issued by Perpetual Ltd. as trustee of SMHL Securitisation Fund 2010-1 (see list). This will be the first issue of securitized mortgage loans originated through...
Companies mentioned in this report are:
- SMHL Securitisation Fund 2010-1
- Members Equity Bank Ltd.
Action: Preliminary Rating
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.