24.07.2013 17:10:00
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Moody's confirms the ratings of notes issued by Nitro 4, a South African Auto ABS
Frankfurt am Main, July 24, 2013 -- Moody's Investors Service has today confirmed the respective Baa2(sf)/A1.za(sf) and Ba2(sf)/Baa1.za(sf) ratings of the Class B and Class C notes issued by Nitro Securitisation 4 Issuer Trust (Nitro 4). At the same time, the rating agency affirmed the A1(sf)/Aaa.za(sf) ratings on the outstanding Class A8 to A14 notes. Adequate credit enhancement, which protects against sovereign risk and counterparty risk, primarily drove the rating action.