KBRA Announces Preliminary Ratings for Cheshire 2021-1 PLC Securitization
LONDON – November 21, 2023 – KBRA has assignedโข preliminary ratings โto several tranches of notes issuedโ by โขCheshire 2021-1 โขPLC, a securitization of UKโ auto loan receivables. Theโฃ ratings, announced today, reflect KBRA’s assessment of the โคtransaction’s underlying credit quality and โฃstructuralโฃ features.
This rating actionโค impacts investors โin the asset-backed securitiesโข (ABS) market, particularly those focused on UK auto finance. โThe Cheshire 2021-1 PLC deal provides exposure toโข a diversifiedโ pool of UK consumer auto loans,โ and the assigned ratings willโข be โฃcrucial in determining investor demand and pricing for the notes.โ The securitization is designed to โprovide investors โคwith a return based on โฃthe โฃperformance of theโ underlying loan portfolio.
Kali Sirugudi,โฃ Managing โฃDirectorโค at KBRA, can be reached atโ +44 20 โฃ8148 1050โฃ orโ kali.sirugudi@kbra.com for further details.Jack Kahan, Seniorโฃ Managing Directorโฃ and โGlobalโค Head of ABS & RMBS,โ and Rating committeeโข Chair, is โคavailable at +1 โฃ646-731-2486 or jack.kahan@kbra.com.
For business growth inquiries, Miten Amin, Managing Director, can be contacted at +44 20 8148 1002 (miten.amin@kbra.com), and Mauricio Noรฉ, Co-Head โof Europe, is available at +44 20 8148 1010โ (mauricio.noe@kbra.com).
KBRA โฃrecently published research on the growing Europeanโฃ ABS market, specifically focusing on heat pump finance and โคsecuritization, available at https://www.cityam.com/kbra-releases-research-heating-up-european-abs-heat-pump-finance-and-securitisation/.
