BEIJING, July 20, 2023- S&P Global (China) Ratings has assigned its rating AAAspc(sf) to Xingqing 2023-1 Consumer Loan Asset Backed Securities (Xingqing 2023-1) Class A-1 and Class A-2 (Class A notes), and assigned rating AAspc(sf)+ to Class B notes (Class A notes and Class B notes as Senior notes). The transaction was originated by Industrial Consumer Finance Co., Ltd.(ICFC).
List of Ratings:
Class A-1: AAAspc(sf)
Class A-2: AAAspc(sf)
Class B: AAspc(sf)+
Methodology Applied:
S&P Ratings China--Structured Finance Methodology
Related Research:
Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities
The Post-Covid Recovery | China Outlook 2023
Models Applied:
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
Jiarong Li, Beijing; jiarong.li@spgchinaratings.cn
Kaiyan Li, Beijing; kaye.li@spgchinaratings.cn
