Monday, Oct 22, 2007
MARC has issued this announcement following updates to Class Auto Receivables Berhad’s (Class Auto) portfolio post sale. MARC has assigned ratings of AAA, AA and A+ to Class Auto’s RM395.0 million Class A, RM20.0 million Class B and RM20.0 million Class C Medium-Term Notes (MTN) respectively in September 2007.
In October 2007, MARC was informed that there were updates to Class Auto’s portfolio post date of sale, 14 September 2007, mainly affecting the number of loans in the portfolio. The outstanding principal balance however remains unchanged. Arising from the change in number of loans, the weighted average original principal balance, weighted average outstanding principal balance and weighted average seasoning have been updated as follows:
PCSB’s Portfolio Summary (as at 14 September 2007) | Revised | Previously Reported |
Outstanding Principal Balance (RM’ million) | 500.6 | 500.1 |
Number loans | 13,458 | 15,521 |
WA Original Principal Balance (RM) | 47,773 | 47,636 |
WA Outstanding Principal Balance (RM) | 39,109 | 34,564 |
WA Annual Percentage Rate (%) | 6.63% | 6.63% |
WA Original Term (months) | 105 | 105 |
WA Remaining Term (months) | 81 | 80 |
WA Seasoning (months) | 24 | 25 |