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Preliminary Ratings Assigned To Medallion Trust Series 2013-1 Prime RMBS Feb 13 Product Image

Preliminary Ratings Assigned To Medallion Trust Series 2013-1 Prime RMBS Feb 13

  • ID: 2417484
  • February 2013
  • Standard & Poors

Abstract
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

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.

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