Fitch Ratings has given expected ratings to Plenti Group's (ASX:PLT) Auto asset-back securities 2025-1 Trust's pass-through floating-rate notes, according to a Tuesday release.
The notes are 'AAA(EXP)sf, and the transaction includes an A-X note to fund the unamortized commission paid to introducers for receivable origination.
Class A to F notes will receive pro rata principal repayments once step-down conditions are met, while credit enhancement from the G notes will rise as the A to F notes amortize.
Plenti Finance originated the automotive loan receivables used to back the notes.
Perpetual Corporate Trust issued the notes as trustee.
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