Tamweel gets ‘AAsf’, outlook stable: Fitch

Tamweel on Wednesday announced that the ratings of the asset-backed securities of its landmark 2007 securitisation (Tamweel Residential ABS CI (1) Ltd) have been upgraded by Fitch Ratings, reflecting the substantial level of credit enhancement available to the notes and the stable performance of the underlying assets.

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Published: Thu 26 Jul 2012, 11:04 PM

Last updated: Tue 7 Apr 2015, 2:39 PM

Fitch has upgraded the ratings of all of the classes of securities to ‘AAsf’ with Stable Outlook, from ‘A+sf’ (Class A), ‘BBB+sf’ (Class B) and ‘BBB-sf’ (Class C) with Stable Outlook, and thereby reaching a five –notch uplift from the Tamweel rating who is the servicer of this issue.

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