CIFD removes BTL collateral from debut RMBS ahead of pricing

Red tape regulations bonfire cut adobe stock AS 230x150
By Tom Brown
21 Oct 2019

Crédit Immobilier de France Developpement (CIFD) has cut the class ‘C’ tranche from its debut RMBS deal, chopping away the buy-to-let (BTL) part of its portfolio to snare additional benefits from the simple, transparent and standardised (STS) framework.

The class ‘A’ and ‘B’ tranches were combined into a single tranche, and the previously labelled class ‘C’ tranche became the new class ‘B’. Fitch correspondingly changed its rating for the deal from A to A+. Moody’s, however, did not change its rating.

The deal, previously ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.