BEIJING, November 23, 2021-S&P Global (China) Ratings has assigned its AAAspc(sf) ratings to the Class A-1 and Class A-2 (Class A notes or Senior notes) of the Gongyuanleju 2021-10 Residential Mortgage Backed Securities. The notes are backed by loans that were originated by Industrial and Commercial Bank of China (ICBC).
List of Ratings:
Class A-1: AAAspc(sf)
Class A-2: AAAspc(sf)
Methodology Applied:
S&P Ratings China--Structured Finance Methodology
Related Research:
Commentary: Understanding Our Approach to China Residential Mortgage-Backed Securities
Credit Quality Divergence of Domestic Banks Balanced by Government Support Amid COVID-19 | A Study on Credit Quality Differentiation of Domestic Banks in China
The Journey Ahead: A Look At China’s RMBS Sector 2021 Edition
Models Applied:
SPG China Ratings RMBS Credit Model
SPG China Ratings Structured Finance Cash Flow Engine
Media Contacts:
Sharon Tang, Beijing, (86)10-6569-2988; sharon.tang@spgchinaratings.cn
Analyst Contacts:
Beibei Shi, Beijing; beibei.shi@spgchinaratings.cn
Jieqiong Du, Beijing; jieqiong.du@spgchinaratings.cn
Jiarong Li, Beijing; jiarong.li@spgchinaratings.cn
