OREANDA-NEWS. Fitch Ratings says that there is no rating impact on Business Mortgage Finance Plc from a reduction in the liquidity facility. The transaction is a securitisation of mortgages granted to small and medium-sized enterprise and owner-managed businesses. The loans in the portfolio were originated by Commercial First Mortgages Limited.

As of the payment date falling on 15 February 2016, the liquidity facility commitment provided by Deutsche Bank AG, London Branch will be reduced to GBP8.0m from GBP48.7m.

In Fitch's view, the liquidity facility will remain sufficient to cover senior fees, swap payments and interest shortfalls on the class A notes, inclusive of class A detachable coupons, under stressed Libor assumptions and for at least one note payment date.