Credit Analysis Reports - Category: Hire Purchase Receivables
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MARC has affirmed its AAA ratings on Class Auto Receivables Berhad’s (Class Auto) Class B and Class C Notes with a stable outlook. The rating affirmation affects RM7.75 million of outstanding Class B Notes and RM20.0 million of outstanding Class C Notes. At the same time, MARC has withdrawn its AAA rating on the Class A Notes following the redemption of all remaining outstanding Class A Note...


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MARC has affirmed its AAA ratings on Class Auto Receivables Berhad’s (Class Auto) RM395.0 million Class A, RM20.0 million Class B and RM20.0 million Class C Notes (collectively known as Notes Series 2007-A). Notes Series 2007-A represents the first series of issuances backed by a RM500.0 million portfolio of hire purchase receivables (Portfolio 2007-A) under Class Auto’s RM10.0 billion...


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MARC has affirmed its AAA rating on Class Auto Receivables Berhad’s (Class Auto) RM395.0 million Class A Notes with a stable outlook. At the same time, the agency has upgraded the ratings of the RM20.0 million Class B and RM20.0 million Class C Notes to AAA from AA and A+ respectively. The notes were issued under a RM10.0 billion Medium Term Notes (MTN) Programme. The rating outlook for Clas...


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MARC has affirmed the long-term ratings of Class Auto Receivables Berhad’s (Class Auto) RM395.0 million Class A, RM20.0 million Class B and RM20.0 million Class C notes at AAA, AA and A+ respectively. The ratings carry a stable outlook for Class A and a positive outlook for Class B and Class C notes. The positive outlook has been assigned taking into account the better-than-expected performa...


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Popularity: 555 views 43 downloads
MARC has affirmed the long-term ratings of Class Auto Receivables Berhad’s (Class Auto) RM395.0 million Class A, RM20.0 million Class B and RM20.0 million Class C notes at AAA, AA and A+, respectively. The ratings carry a stable outlook. Since issuance through September 2008, the transaction has experienced better than expected delinquencies and cumulative defaults and lower than expected pr...


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Class Auto Receivables Berhad (Class Auto), a special purpose vehicle whose shares are held by the share trustee for the benefit of certain charities, was incorporated for the purpose of purchasing hire purchase receivables from the originator, CIMB Bank Berhad (CIMB Bank) from time to time.  Under the proposed transaction, Class Auto will purchase a selected pool of hire purchase receivables...


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MARC has reaffirmed the long-term rating of Auto ABS One Bhd’s (Auto ABS) RM510.0 million Class A bonds at AAA. The reaffirmation reflects the portfolio of hire purchase receivables performing within MARC’s stress scenario, rising enhancement levels underpinned by the availability of overcollateralization of 151.3% (initial: 106.9%) and a non-amortizing cash reserve equivalent to 16...


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Popularity: 667 views 7 downloads
MARC has reaffirmed the long-term rating of Auto ABS One Bhd’s (Auto ABS) RM510.0 million Class A bonds at AAA. This is premised on the portfolio of hire purchase receivables performing within stressed expectations, the availability of gross overcollateralization of 107.0% and a non-amortizing cash reserve equivalent to 2.5% of the nominal value of the bonds. Under the first tier of a two-...


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MARC has reaffirmed the long-term ratings of Auto ABS One Bhd’s (Auto ABS) RM510.0 million Class A bonds at AAA. This is premised on the portfolio of hire purchase receivables performing within stressed expectations, the availability of gross overcollateralization of 107.0% and a non-amortizing cash reserve equivalent to 2.5% of the nominal value of the bonds.Under the first tier of a two-...


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Popularity: 837 views 22 downloads
MARC has affirmed the long-term ratings of Auto ABS One Bhd’s (Auto ABS) RM510.0 million Class A bonds at AAA. This is premised on the portfolio of hire purchase receivables performing within stressed expectations, the availability of gross overcollateralization of 107.0% and a non-amortizing cash reserve equivalent to 2.5% of the nominal value of the bonds.Under the first tier of a two-t...


Normal Price: RM500.00       Subscriber Price: Free Download