Fitch: No Rating Impact on Ginkgo Personal Loans 2016 from Amendments
Following the reduction of interest margins the class A notes' new coupon is Euribor 1M plus 0.3% and the class B notes' new coupon is Euribor 1M plus 0.7%. Both coupons are floored at zero. At the same time, the fixed rates paid by the issuer under the class A and B swap agreements have increased. Overall, these changes have in Fitch view no impact on the ratings of the transaction.
FCT Ginkgo Compartment Personal Loans 2016-1 is an 18-month revolving securitisation of French unsecured consumer loans originated in France by CA Consumer Finance (CACF). The securitised portfolio consists of general-purpose personal loans and debt consolidation loans advanced to individuals. All the loans bear a fixed interest rate and are amortising with constant monthly instalments.