CRISIL Rating for HDFC Bank´s asset backed securitization programme

CRISIL Ltd has assigned ratings to HDFC Bank´s asset backed securitization programme

						Retail Trust August 2006

Pass-Through-	 		Cash Flows		Rating/Credit

Certificate/Facility		(Rs mn)			opinion* assigned

Series 	A1 PTCs			1024.30                     P1+(so)

Series A2 PTCs                  1466.85			    AAA(so)

Series A3 PTCs                   849.08			    AAA(so)

Series A4 PTCs                	  78.62			    AAA(so)

Series A5 PTCs                 	  70.41			    AAA(so)

Liquidity Facility             	  48.85			Credit Quality equivalent

							to a rating of AAA (so)

Second Loss Credit  	 	 132.59			Credit Quality equivalent

Collateral        					to a rating of BBB (so).

* The ratings assigned are provisional and would become valid once the legal documentation pertaining to the transaction is duly executed to the satisfaction of CRISIL. CRISIL will thereafter issue a compliance letter.

Source : Equity Bulls

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