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How We Distinguish Between Ongoing and Extraordinary Group Support When Rating Financial Institutions

Rating Action: Rating Withdrawn on Zhongyu 2022-2 Senior Notes Following Note Paydowns

评级行动:终止“中誉2022-2”优先档证券的信用等级

Rating Action:Rating Withdrawn on SAC 2020-2 Class A Notes Following Note Paydowns

评级行动:终止“速利银丰2020-2” A级证券的信用等级 


How We Distinguish Between Ongoing and Extraordinary Group Support When Rating Financial Institutions

Group influence is integral to the credit quality of many financial institutions. Group influence can either be positive support or negative intervention, and it can come in two forms – ongoing influence or extraordinary influence. An entity’s stand-alone credit profile (“SACP”) typically incorporates a group’s ongoing positive or negative influence on the rated entity. However, SACP does not reflect the positive or negative impact a group may have during an extraordinary crisis scenario. From our desktop analysis of 500 major financial institutions in China, we found most group influence is positive. However, there are some cases where group influence has a negative impact.

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Rating Action: Rating Withdrawn on Zhongyu 2022-2 Senior Notes Following Note Paydowns

BEIJING, September 28, 2022- S&P Global (China) Ratings today announced that it has withdrawn its rating on the Senior Notes of the Zhongyu 2022-2 Non-Performing Asset Backed Securities (Zhongyu 2022-2) follows the complete paydown of the notes as reflected in the trustee report for the transaction, which was originated by Bank of China (BOC).

 

Rating Withdrawn:

Senior Notes: AAAspc(sf)

 

Methodology Applied:

S&P Ratings China--Structured Finance Methodology

 

Related Research:

Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities

Seeking Growth and Stability | China Outlook 2022

FAQs on Banks’ Nonperforming Assets and Securitization 

 

Media Contacts:

Sharon Tang, Beijing, (86)10-6569-2988; sharon.tang@spgchinaratings.cn

 

Analyst Contacts:

Enjie Zhang, Beijing;              enjie.zhang@spgchinaratings.cn  

Siyue Zhu, Beijing;              april.zhu@spgchinaratings.cn 

Jieqiong Du, Beijing;               jieqiong.du@spgchinaratings.cn 



评级行动:终止“中誉2022-2”优先档证券的信用等级

北京,2022年9月28日-标普信评今日宣布,根据中誉2022年第二期不良资产证券化信托受托机构报告,“中誉2022年第二期不良资产支持证券”(简称“中誉2022-2”)项下的优先档资产支持证券(以下简称“优先档证券”)已经全部偿付完毕,因此终止由中国银行股份有限公司发起的“中誉2022-2”项下优先档证券的信用等级。

 

终止前的信用等级列表:  

优先档证券:AAAspc(sf)

 

相关方法:  

标普信用评级(中国)— 结构融资评级方法论  

  

相关评论与研究:  

评论:解读标普信用评级(中国)个人消费贷款资产支持证券分析方法

稳中求进 | 标普信评2022年行业展望

评论:银行不良资产和不良资产证券化答疑

 

传媒联络人:

汤劭颖,北京;(86)10-6569-2988;sharon.tang@spgchinaratings.cn

 

分析师

张恩杰,北京;enjie.zhang@spgchinaratings.cn

朱偲玥,北京;april.zhu@spgchinaratings.cn

杜洁琼,北京;jieqiong.du@spgchinaratings.cn

 
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Rating Action:Rating Withdrawn on SAC 2020-2 Class A Notes Following Note Paydowns

BEIJING, September 28, 2022- S&P Global (China) Ratings today announced that it has withdrawn its rating on the Class A Notes of the Silver Arrow China 2020-2 Retail Auto Loan Backed Securities(SAC 2020-2) follows the complete paydown of the notes as reflected in the latest trustee report for the transaction,which was originated by Mercedes-Benz Auto Finance LTD.

 

 

Rating Withdrawn:

Class A: AAAspc(sf)

 

Methodology Applied:

S&P Ratings China--Structured Finance Methodology

 

Related Research:

Commentary: Understanding Our Approach to China Consumer Asset-Backed Securities

 

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 



评级行动:终止“速利银丰2020-2” A级证券的信用等级 

北京,2022年9月28日-标普信评今日宣布,根据速利银丰中国2020年第二期个人汽车抵押贷款支持证券(简称“速利银丰2020-2”)的最新受托机构报告,速利银丰2020-2项下的A级资产支持证券(简称“A级证券”)已经全部偿付完毕,因此终止由梅赛德斯-奔驰汽车金融有限公司发起的速利银丰2020-2项下A级证券的信用等级。

 

终止前的信用等级列表:  

A级证券:AAAspc(sf)

 

相关方法:  

标普信用评级(中国)— 结构融资评级方法论  

  

相关评论与研究:  

评论:解读标普信用评级(中国)个人消费贷款资产支持证券分析方法

 

模型:

标普信用评级(中国)结构融资现金流模型

 

传媒联络人:

汤劭颖,北京;(86)10-6569-2988;sharon.tang@spgchinaratings.cn

 

分析师

施蓓蓓,北京;beibei.shi@spgchinaratings.cn

李佳蓉,北京;jiarong.li@spgchinaratings.cn

 
Click here to view the English version.