Fox Street 6 (RF) Limited

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Fox Street 6 (RF) Limited (2021-09)
  • Fox Street 6 (RF) Limited
  • Year : Sep 2021
3 Tokens
USD 300.00

Fox Street 6 (RF) Ltd (“Fox Street 6”, “the Issuer” or “the Transaction”) is a Residential Mortgage-Backed Securities (“RMBS”) securitisation of home loans originated by Investec Bank Ltd (“Investec”) to its private banking clients. This is Investec’s sixth Fox Street RMBS transaction which issued Notes on 8 August 2018. Senior expenses were updated to reflect the current reported levels and corroborated with Investec. They were then stressed upwards by 10% to cater for unexpected expenses. An annual escalation of 6% was applied to these expenses to account for inflation.

Additional Information

The output of the cash flow model leads directly to the ratings assigned to each Class of Notes. The modelling outcome is consistent with the level of Credit Enhancement of each respective Class and can be reasonably compared with the rating outcomes of the other Fox Street transactions currently rated by GCR.

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