Kroll Bond Rating Agency, LLC (KBRA): KBRA Assigns Preliminary Ratings to Primrose Residential 2021-1 DAC
Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to seven classes of notes to be issued by Primrose Residential 2021-1 DAC. The transaction is a static RMBS securitisation backed by reperforming mortgage loans (RPL). The underlying collateral consists of a €869.8 million mixed portfolio of seasoned first lien performing and re-performing mortgages that are secured by majority owner occupied (OO) and buy-to-let (BTL) properties located in Ireland. The portfolio includes mortgages originated by three Irish originators, Permanent TSB plc (72.5%, PTSB), Irish Nationwide Building Society (15%, INBS) and Springboard Mortgages Limited (12.5%, Springboard). Primrose Residential comprises loans from two portfolios, the first which collateralised European Residential Loan Securitisation 2019-PL1 DAC (ERLS 2019-PL1) (aggregating €630.8 million; 72.5%) and seco
Kroll Bond Rating Agency: KBRA Assigns Rating to Oban Cards 2021-1 PLC
Kroll Bond Rating Agency UK Limited (KBRA) assigns a rating to the Series 2021-1 Class A Notes relating to the Oban Card 2021-1 PLC transaction, a £451.3 million securitisation of United Kingdom ( UK ) non-prime credit card receivables originated by Vanquis Bank Limited ( Vanquis Bank ).
Vanquis Bank offers a range of credit card products, unsecured personal loans and savings products. Vanquis Bank is a leading issuer of credit cards in the UK non-standard credit market, offering credit cards to customers who have typically been declined by mainstream credit card providers. Vanquis Bank has been active in the credit card market in the UK since 2003 and is wholly-owned by Provident Financial PLC ( Provident ), which was established in 1880.
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Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to three Senior Tranches, two Tranches and two Credit Linked Notes relating to the Fontwell II Securities 2020 DAC transaction, a £1.87bln partially-funded synthetic securitisation of United Kingdom agricultural mortgage loan agreements originated by Agricultural Mortgage Corporation PLC (“AMC”), a wholly owned subsidiary of Lloyds Bank PLC (“Lloyds”).
Fontwell II Securities 2020 DAC will issue three classes of Credit Linked Notes, the Class A Portfolio Credit Linked Notes (“Class A CLNs”), the Class B Portfolio Credit Linked Notes (“Class B CLNs”) and the Class Z Credit Linked Notes (“Class Z CLNs”), together, the (“Credit Linked Notes”), which reference certain tranches of the reference portfolio. KBRA has assigned preliminary ratings to the Class A CLNs and the Class B CLNs and to the related tranches o
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Kroll Bond Rating Agency Europe Limited (KBRA) assigns preliminary ratings to three Senior Tranches, two Tranches and two Credit Linked Notes relating to the Fontwell II Securities 2020 DAC transaction, a £1.87bln partially-funded synthetic securitisation of United Kingdom agricultural mortgage loan agreements originated by Agricultural Mortgage Corporation PLC ( AMC ), a wholly owned subsidiary of Lloyds Bank PLC ( Lloyds ).
Fontwell II Securities 2020 DAC will issue three classes of Credit Linked Notes, the Class A Portfolio Credit Linked Notes ( Class A CLNs ), the Class B Portfolio Credit Linked Notes ( Class B CLNs ) and the Class Z Credit Linked Notes ( Class Z CLNs ), together, the ( Credit Linked Notes ), which reference certain tranches of the reference portfolio. KBRA has assigned preliminary ratings to the Class A CLNs and the Class B CLNs and to the related tranches of the reference portfolio, Tranche A and Tranche B. KBRA has also assigned preliminary ratings to