South African Securitisation Programme (RF) Limited - Series 1 (Monitoring Dashboard)

South Africa

South African Securitisation Programme (RF) Limited - Series 1 - (Monitoring Dashboard)

The Dashboard covers the period from August 2019 to August 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.

South African Securitisation Programme (RF) Limited - Series 1 (Monitoring Dashboard)

The Dashboard covers the period from June 2019 to June 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.

South African Securitisation Programme (RF) Limited Series 1 (Monitoring Dashboard)

The yield was reported at 24.2% (the highest since August 2015) for the month of May 2020. Due to an increase in the early settlement profits which attributed R6.6m (23% of the total yield).

South African Securitisation Programme (RF) Limited Series 1 (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 rating action or rating reports. GCR will update the Dashboards at least on a quarterly basis.

South African Securitisation Programme (RF) Limited - Series 1 (Monitoring Dashboard)

The net default trigger was retrospectively recalculated in December 2019 due to two reasons:

1. The calculation of the denominator the “Average NPV of EL for the past 12 months” has been aligned with transaction documents. The previous calculation subtracted cumulative defaults from the portfolio balance as opposed to using the current balance.

2. The monthly defaults and recoveries were revised to reflect their “true” value as the recoveries since Sasfin migrated to a new debtor’ system in 2019 only reflected legal collections as opposed to the complete list of the recoveries related to the default list.

The trigger shows some headroom at January 2020…

South African Securitisation Programme (RF) Limited - Series 1 (Monitoring Dashboard)

The Dashboard covers the period from October 2018 to October 2019 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.

South African Securitisation Programme (RF) Limited - Series 1 (Monitoring Dashboard)

The Dashboard covers the period from August 2018 to August 2019 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.

South African Securitisation Programme (RF) Limited - Series 1 (Monitoring Dashboard)

The Dashboard covers the period from June 2018 to June 2019 and is part of GCR’s performance monitoring process and does not constitute rating action. For rating reports click on the following https://gcrresearch.com/reports/companies/611. GCR will update the Dashboards at least on a quarterly basis

SASP 1 (Monitoring Dashboard)

The Dashboard exhibits key performance metrics related to the South African Securitisation Programme (RF) Ltd – Series 1 transaction, which include credit enhancement levels, excess spread, defaults, recoveries and covenants.

 

Available Purchase Options: