South African Securitisation Programme (RF) Limited - Series 1

Image placeholder
South African Securitisation Programme (RF) Limited - Series 1
  • South African Securitisation Programme (RF) Limited - Series 1
  • Year : Sep 2020
2 Tokens
USD 150.00
Summary

On 21 August 2020, GCR assigned issue credit rating to the Class A28 Notes issued under the South African Securitisation Programme (RF) Limited – Series 1 (“SASP 1” or the “Issuer”) on 17 August 2020. The Notes were issued to refinance the maturing Class A21 and Class A24 Notes. The ratings assigned to the maturing Notes were withdrawn post the refinance.

Additional Information

SASP 1 is the first 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.

This report focuses on changes in the main drivers of the ratings and is an update to GCR’s SASP 1 New Issuance Report published in August 2019

Related Publications

Investec Property Fund Limited - R416m Senior Secured Notes (2015-07)

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

Global Equity Investments Ltd (Monitoring Dashboard)

The Dashboard was updated in September 2020 and is part of GCR’s monitoring process and does not constitute rating action. GCR will update th...

GCR Risk Score Snapshot as of 10th Feb 2021

The GCR Ratings Framework is anchored upon the GCR Risk Score. This numerical scoring system, which forms a single analytical approach across multi...

Available Purchase Options: