Announcements

    Drinks

      HT Abanca RMBS II exhibits stable performance – Spanish RMBS
      FRIDAY, 21/12/2018 - Scope Ratings GmbH
      Download PDF

      HT Abanca RMBS II exhibits stable performance – Spanish RMBS

      Scope Ratings has reviewed the annual performance of HT Abanca RMBS II, which remains in line with expectations. No rating action is warranted as a result.

      Scope Ratings has reviewed the performance of HT Abanca RMBS II and no rating action is granted. (Current ratings on the transaction are available here.) Credit enhancement has increased to 18.8% for the class A notes, up from 17.8% at closing. Performance is stable, as assets more than 90 days past due represent 0.03% of the outstanding non-defaulted assets. No subjective defaults have been reported since closing and no technical defaults have been realised due to the 18-month default definition. The reserve is fully funded at EUR 40.5m and has two years before the lock-out period expires. Performance was assessed from data provided by Haya Titulización, SGFT, S.A. through 31 October 2018. Counterparty risk exposure has not changed since closing, with Abanca Corporación Bancaria, S.A. (servicer) and Santander S.A. (account bank and paying agent) continuing to support the rating.

      The transaction is a true-sale securitisation of a granular EUR 907.1m static portfolio (at closing) of amortising first-lien residential mortgages granted to private individuals in Spain. The variable-rate loans were originated by Abanca and some of its predecessor banks. The transaction closed on 22 December 2017 and the class A has amortised from EUR 780.0m to EUR 734.2m as of 31 October 2018.

      Scope continuously monitors HT Abanca RMBS II.

      Ratings and research are freely available at www.scoperatings.com

      Related news

      Show all
      Scope rates AAA(SF) Italian pharmacy SME notes issued by Emma SPV S.r.l.

      28/8/2025 Rating announcement

      Scope rates AAA(SF) Italian pharmacy SME notes issued by Emma ...

      Scope has completed a periodic review of BBVA RMBS 22, FT-Spanish RMBS

      28/8/2025 Monitoring note

      Scope has completed a periodic review of BBVA RMBS 22, ...

      Scope has completed a periodic review of BBVA RMBS 20, FT-Spanish RMBS

      28/8/2025 Monitoring note

      Scope has completed a periodic review of BBVA RMBS 20, ...

      Scope affirms class A notes and upgrades class B notes issued by BBVA RMBS 21, FT-Spanish RMBS

      28/8/2025 Rating announcement

      Scope affirms class A notes and upgrades class B notes issued ...

      Class A notes issued by Itaca SPV S.r.l. paid in full - Italian NPL ABS

      12/8/2025 Monitoring note

      Class A notes issued by Itaca SPV S.r.l. paid in full - ...

      Class A notes issued by Capella Financing S.à r.l. paid in full - Cypriot NPL ABS

      11/8/2025 Monitoring note

      Class A notes issued by Capella Financing S.à r.l. paid in ...