Irish RMBS breaks back into top rating tier

By Tom Porter
22 Sep 2014

A Fastnet shelf transaction backed by loans originated by Permanent TSB has become one of the first Irish RMBS to benefit from Fitch Ratings’ decision to move the cap on the asset class’s rating back to triple-A.

Fitch upgraded the Irish sovereign from BBB+ to A- in August, and has now lifted the rating cap for Irish RMBS transactions from AA+ to AAA.

The ratings agency started a review on August 15 of the Irish RMBS transactions that were being capped at the previous ...

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