S&P Assigns AAA(sf) Rating on Class A1 Notes Under Far East Horizon-Originated Transaction

MT Newswires Live2024-12-26

S&P Global Ratings placed an AAA(sf) rating on Far Eastern Leasing 2024-1 Inclusive MSE Private Asset-Backed Notes' 2.18 billion yen, class A1 notes, according to a Wednesday release.

China Resources SZITIC Trust issued the notes under the equipment lease receivables securitization transaction originated by Far East Horizon (HKG:3360), S&P said.

The rating reflects credit risk that is in line with the AAA rating stress for the class A1 notes as well as sufficient credit enhancement, the rating agency said.

S&P expects the transaction's cash flows to meet related payments on time.

The trust's legal structure and the rating bank account provider Standard Chartered Bank are consistent with existing criteria, S&P said.

The notes' rating is also higher than China's sovereign credit rating, according to the rating agency.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment