South African Securitisation Programme (RF) Limited - Series 3

Image placeholder
South African Securitisation Programme (RF) Limited - Series 3
  • South African Securitisation Programme (RF) Limited - Series 3
  • Year : Aug 2020
3 Tokens
USD 300.00
Summary

The rating action reflects the unchanged capital structure post annual review, asset performance and our credit and cash flow analysis using the most recent collateral data at May 2020. GCR also performed a re-rating exercise given the amended credit risk assumptions. The ratings also reflect the credit enhancement levels which are modelled as per the 8% overcollateralisation covenant.

Additional Information

SASP 3 is the third of three series of the R5bn multi-seller segregated asset-backed notes programme of rental and equipment lease financed assets originated by Sasfin Bank Ltd. SASP 1 and SASP 3 are primarily made up of office equipment leases, while SASP 2 is primarily made up of capital asset leases.

Related Publication

Evolution Future Flow Securities (2017-03)

A Credit Rating report is a research report providing detailed analysis utilised by GCR in the accordance of a Credit Rating.

iVuzi Investments (RF) Ltd (Monitoring Dashboard)

The Dashboard covers the period from March 2019 to March 2020 and is part of GCR’s performance monitoring process and does not constitute rat...

SECURITISATION 101

Securitisation is seen as an alternative to on-balance sheet funding and a form of disintermediation, allowing corporates and other institutions to...

Available Purchase Options: