CRISIL assigns highest safety ratings for Tata Motors securitisation programme

CRISIL has assigned the highest safety ratings for PTCs issued under Tata Motors´ securitisation programme:

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PTC	Yield terms	Cash Flows	Tenure		Rating	Cash collateral/
Series			(Rs mn)		(Months)	Assigned*	Bank guarantee
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Trust			BHPC Auto Securitisation Trust August I, 2006
Name
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A1-1	Fixed		1066.2		24 months	AAA (so)
A1-2	Floating^		543.9		24 months		AAA (so)	432.8
A2	Fixed		990.6		36 months	AAA (so)
A3	Fixed		447.3		57 months	AAA (so)
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Total			3048.0
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^ MIBOR based with a floor and cap

* Ratings are provisional and will became valid once the legal documentation pertaining to the transaction is duly executed to the satisfaction of CRISIL. Subsequently, CRISIL will issue a compliance letter.

Source : Equity Bulls

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