AZURE FINANCE No2 RATINGS UPGRADED BY STANDARD & POOR’S
Blue is pleased to advise that Standard and Poor’s has improved its credit ratings for a number of Azure Finance No. 2 PLC’s classes of notes.
The class C, D and E notes have all received a rating upgrade from A+ (sf) to AAA (sf); A- (sf) to AA+ (sf) and from B+ (sf) to BBB respectively. The other class F notes were reaffirmed as CCC+ (sf).
The upgrade and affirmation of these note tranches, was prompted by an increase in credit enhancement available in the transaction and better than expected collateral performance of the loans to date.
Tiku Patel, CEO of Blue Motor Finance commented:
“Blue continues to underwrite prudently, provide excellent servicing and collection operations, and to treat customers fairly. We are pleased that Standard & Poor’s have reassessed and upgraded several of our Azure 2 transaction’s ratings, showing confidence in the soundness of our business approach and portfolio performance.”
Read the full Standard & Poor’s press release here:
Azure Finance No. 2 Class C, D-Dfrd, And E-Dfrd U | S&P Global Ratings (spglobal.com)