South African Securitisation Programme (RF) Limited - Series 2 (Monitoring Dashboard)
Year : Jul 2020
For March and April 2020, the percentage Overcollateralisation covenant is still at the 10% required level. However, the proportion of performing assets where not sufficient to meet the required level (resulting in the negative proportion), the shortfall is funded by cash. This was due to the increase in delinquent and defaulted loans together with a relatively lower asset balance.
The Dashboard covers the period from May 2019 to May 2020 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboards at least on a quarterly basis.
The Dashboard exhibits key performance metrics related to the South African Securitisation Programme (RF) Ltd – Series 2 transaction, which include credit enhancement levels, excess spread, defaults, recoveries and covenants. Click here for rating reports.