Richefond Circle (RF) Limited (2022-02)
- Richefond Circle (RF) Limited
- Year : Feb 2022
Summary
Richefond Circle’s asset portfolio was modelled based on the indicative (31 December 2021) pool provided to GCR, with defaults, recoveries, prepayments and arrears, inter alia, modelled as described later in this report. The indicative rating outcome is a direct result of the modelling of the Transaction’s cash flows in successively more stressful rating scenarios. Richefond Circle plans to issue Notes under its newly established R7bn Commercial Property Loan Mortgage-Backed Securitisation Programme.
Additional Information
The output of the cash flow model leads directly to the ratings assigned to each Class of Notes. The rating of each respective Class of Notes indicates the highest rating level at which the various Classes of Notes’ interest and principal is paid in full in all modelled scenarios that relate to such rating.
