MELBOURNE (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services today assigned its preliminary ratings to four classes of prime residential mortgage-backed securities (RMBS) issued by Perpetual Trustee Co. Ltd. as trustee of Medallion Trust Series 2013-1 (see list). The preliminary ratings reflect: Our view of the credit risk of the underlying collateral portfolio, including the fact that this is a closed portfolio, which means no further loans will be assigned to the trust after the closing date. Our view that the credit support is sufficient to withstand the stresses we apply. This credit support comprises mortgage insurance to 22.7% of the portfolio, which covers 100% of the face value of these loans, accrued interest, and reasonable costs of...
Companies mentioned in this report are:
- Medallion Trust Series 2013-1
Action: Preliminary Rating
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Research type: News
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