MW Asset Rentals (RF) Ltd - R2.5bn Lease Receivables Backed Note Programme

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MW Asset Rentals (RF) Limited
  • MW Asset Rentals (RF) Ltd - R2.5bn Lease Receivables Backed Note Programme
  • Year : Sep 2020
3 Tokens
USD 300.00
Summary

MW Asset Rentals (RF) Ltd is a R2.5bn Lease Receivables Backed Note Programme that issued R1.250m of Class A Notes. On 07 September 2020, GCR Ratings assigned the following national scale long term issue credit rating and outlook to the following Notes issued by MW Asset Rentals (RF) Ltd , under its R2.5bn Lease Receivables Backed Note Programme, on 04 September 2020

Additional Information

There has been a steady increase in the number of new applications since April 2019 which experienced a severe decline from April 2020. The application decline ratios, on a nominal basis, from March to June 2020, have increased significantly to c.80%. The recent revised risk appetite of commercial banks has benefitted Merchant West due to an influx of new business and larger ISAs being originated. This is in part offset by the delay of supply chains impacted by COVID-19 resulting in delayed supply of equipment. It was noted that a fair number of new ISAs will be originated as equipment are imported and supplied to lessors.

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