South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

South Africa

South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

The Dashboard covers the period from July 2020 to July 2021 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboard at least on a quarterly basis.

South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

The Dashboard covers the period from February 2020 to February 2021 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboard at least on a quarterly basis.

South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

The Dashboard covers the period from September 2019 to September 2020 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboard at least on a quarterly basis. Click here for rating reports.

South African Securitisation Programme (RF) Limited Series 3 (Monitoring Dashboard)

The Dashboard covers the period from July 2019 to July 2020 and is part of GCR’s performance monitoring process and does not constitute rating action or rating reports. GCR will update the Dashboard at least on a quarterly basis. Click here for rating reports

South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

The yield increased to 17% in May 2020 from 13% mainly due to an increase in Evergreens (R4m in the month of May).

South African Securitisation Programme (RF) Limited Series 3 (Monitoring Dashboard)

The April 2020 performance of which the South African economy was on level 5 lockdown, has remained broadly in line with pre-COVID-19 months. GCR notes however, that the performance excludes leases which were granted payment holidays as these where replaced.

South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

From July 2019, the covenant relating to the minimum Equipment Leases which include maintenance obligations in terms of Maintenance Agreement on the part of the lessor in respect of the Equipment, has not been reported on. This was due to the migration of data by Sasfin Bank Ltd to the new debtors' ledger system in 2019, which saw some fields not migrating across. Going forward, the administrator has indicated that this will be included in the reports again. GCR also notes that the maximum this covenant has ever been reported at is 0.1% compared to its 2% limit.

South African Securitisation Programme (RF) Limited - Series 3 (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 Dashboard at least on a quarterly basis.

South African Securitisation Programme (RF) Limited - Series 3 (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 Dashboard at least on a quarterly basis.

South African Securitisation Programme (RF) Limited - Series 3 (Monitoring Dashboard)

The Dashboard covers the period from July 2018 to July 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 3 (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/716. GCR will update the Dashboards at least on a quarterly basis.

SASP 3 (Monitoring Dashboard)

The Dashboard exhibits key performance metrics related to the South African Securitisation Programme (RF) Ltd – Series 3 transaction, which include credit enhancement levels, excess spread, defaults, recoveries and covenants.

 

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