Rpt fitch affirms semper finance 2006 1 & 2007 1s notes

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May 24 (The following statement was released by the rating agency)Fitch Ratings has affirmed Semper Finance 2006-1 Ltd.'s senior swap and class A to E notes and Semper Finance 2007-1 GmbH's class A1+ to E notes. A full list of rating actions is at the end of this release. RATING DRIVERS The affirmation is driven by strong collateral performance, scheduled amortisation and loan repayments. As a result, the Semper Finance 2006-1 reference pool has reduced in balance to EUR538.5m from EUR604.3m (EUR1.85bn at closing) and the Semper Finance 2007-1 pool to EUR294.0m from EUR351.4m (EUR1.00bn at closing) since July 2012. Credit enhancement available to each class has increased through sequential repayment. Fitch believes that the risk profile of both remaining reference pools has stayed largely stable. SEMPER FINANCE 2006-1 While the WA (weighted average) vacancy across the reference pool has remained broadly unchanged since July 2012 at around 7.6% (up slightly since closing), the WA loan-to-value ratio (LTV) has fallen to 45.3% from 46.9% (64.7% at closing); and over the same period, interest coverage has improved to 4.0x from 3.7x (2.7x at closing). Furthermore, there have been no credit events (defined as bankruptcy of the relevant borrower or failure to pay) since the transaction closed in 2006. SEMPER FINANCE 2007-1 The reported WA LTV has declined slightly to 66% from 67% since July 2012. The portfolio has also seen an improvement in its WA vacancy rate to 3.7% from 4.1% (6.9% at closing). At the same time the, the portfolio's WA debt service coverage ratio (DSCR) has been stable at around 1.4x. Despite these improvements, defaulted reference claims on the reference portfolio have risen slightly to 7.8% from 7.7% of the pool by loan balance, and are now attributable to 21 loans, down from 24 a year ago. Fitch believes that the potential losses from defaulted reference claims are largely offset by the protection offered by unrated junior classes (EUR27.7m) and by the significant portfolio amortisation, which increases credit enhancement and mitigates the risk of collateral underperformance.

RATING SENSITIVITIES Should the number of credit events in either reference pool increase unexpectedly the Outlook on the Semper Finance 2006-1 class E and D notes may be revised or the class E rating of Semper Finance 2007-1 be downgraded. The rating actions are as this site Finance 2006-1 Ltd.:EUR48.3m Senior Swap affirmed at 'Asf'; Outlook Stable

EUR0.02m Class A+ (XS0274873941) affirmed at 'Asf'; Outlook StableEUR138.0m Class A (XS0274874246) affirmed at 'Asf'; Outlook StableEUR111.5m Class B (XS0274874592) affirmed at 'Asf'; Outlook StableEUR92.5m Class C (XS0274874832) affirmed at 'Asf'; Outlook StableEUR83.0m Class D (ISIN: XS0274875052) affirmed at 'BBB+sf'; Outlook PositiveEUR32.7m Class E (ISIN: XS0274875565) affirmed at 'BB+sf'; Outlook Positive

EUR7.4m Class F (XS0276247748): not ratedEUR25.1m Threshold Amount: not ratedSemper Finance 2007-1 this site A1+ (XS0305670647) affirmed at 'Asf'; Outlook StableEUR10.0m Class A2 (XS0305670993) affirmed at 'Asf'; Outlook StableEUR51.8m Class B (XS0305671298) affirmed at 'Asf'; Outlook StableEUR51.7m Class C (XS0305671454) affirmed at 'BBBsf'; Outlook StableEUR49.1m Class D (XS0305672262) affirmed at 'BBsf'; Outlook Stable from NegativeEUR20.3m Class E (XS0305672692) affirmed at 'Bsf'; Outlook NegativeEUR8.7m Class F (XS0305672858): not ratedEUR11.4m Class G (XS0305673070): not ratedEUR7.6m Threshold Amount: not rated var $relatedItems = $('lia "/article/riyad-bank-dividend-idUSD5N1E9002"Saudi\'s Riyad Bank recommends lower cash dividend for H2 2016/a/lilia "/article/idUSFWN1EU0AO"BRIEF-CME Group reached record average daily volume of 15.6 mln contracts in 2016/a/li'), $relatedItems = $relatedItems.slice(0,10), relatedBlockLimit = Number('6'), relatedItemsTotal = $relatedItems.length, $paragraphTags = $('#article-text p'), contentParagraphs = 0, minParagraphs = Number("8"); for (i=0; i $paragraphTags.length; i++) { if ($paragraphTags[i].innerText.trim().length 0) { contentParagraphs = contentParagraphs + 1; } } if (contentParagraphs minParagraphs) { setTimeout(function(){ if (relatedItemsTotal relatedBlockLimit) { $('.first-article-divide').append('div class="related-content group-one"h3 class="related-content-title"Also In Financials/h3ul/ul/div'); $('.second-article-divide').append($('.slider.slider-module')); $('.third-article-divide').append('div class="related-content group-two"h3 class="related-content-title"Also In Financials/h3ul/ul/div'); var median = (relatedItemsTotal / 2); var $relatedContentGroupOne = $('.related-content.group-one ul'); var $relatedContentGroupTwo = $('.related-content.group-two ul'); $.each($relatedItems, function(k,v) { if (k + 1 = median) { $relatedContentGroupOne.append($relatedItems[k]); } else { $relatedContentGroupTwo.append($relatedItems[k]); } }); } else { $('.third-article-divide').append($('div class="related-content group-one"h3 class="related-content-title"Also In Financials/h3ul/ul/div')); $('.related-content ul').append($relatedItems); } },500); } Next In Financials Dubai Islamic Bank requests proposals for dollar sukuk - sources DUBAI, Jan 4 Dubai Islamic Bank (DIB) has asked banks to submit proposals to arrange a potential U.S. dollar-denominated sukuk issue, sources familiar with the situation said on Wednesday. BRIEF-Colliers International UK acquires hospitality asset management firm * Colliers international uk acquires market leading hospitality asset management firm BRIEF-Dena bank to consider capital planning for FY 2016-17 * Says to consider capital planning for FY 2016-17 i.e. raising of capital through equities and/or bonds Source text: this site Further company coverage: MORE FROM REUTERS window._taboola = window._taboola || []; _taboola.push({ mode: 'organic-thumbnails-a', container: 'taboola-recirc', placement: 'Below Article Thumbnails - Organic', target_type: 'mix' }); Sponsored Content @media(max-this site) { #mod-bizdev-dianomi{ height: 320px; } } From Around the Web Promoted by Taboola window._taboola = window._taboola || []; _taboola.push( { mode: 'thumbnails-3X2', container: 'taboola-below-article-thumbnails', placement: 'Below Article Thumbnails', target_type: 'mix' } ); window._taboola = window._taboola || []; _taboola.push