Fox Street 6 (RF) Limited

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

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.

Related Publication

Commissioner Street No.4 (2016-11)

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

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...

Credit Spotlight: Civil Unrest and Ratings in South Africa

GCR Ratings has taken note of the recent geopolitical events from 7 July 2021 which sparked violent looting and riots in Kwa-Zulu Natal and Gauteng...

Available Purchase Options: