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Standard and Poor’s last week raised the ratings on Pepper Home Loans’ Pepper Residential Securities Trust No. 4 Class B, C and D notes to AAA, A+ and BBB- respectively.
The rating agency also affirmed the AAA rating on the Trust’s Class A1, A2, and A3 notes.
Chief financial officer of Pepper Richard Balzer said the ratings upgrade affirmed Pepper’s “quality underwriting and servicing systems and processes”.
“The ongoing performance of this trust is confirmation of the quality credit assessments Pepper makes on the loans it writes,” he said.
While Mr Balzer said market liquidity remained tight he was optimistic about the future of RMBS.
“Pepper continues to receive positive feedback from investors,” he said.
“Liquidity is tight but Pepper will continue to monitor debt markets and be ready to take advantage when any opportunities emerge in relation to new issuance.”
Published: 28-04-08
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