Presale

Sage AR Funding No. 1 PLC: Presale Report

CMBS

Summary

On 5 October 2020, DBRS Morningstar assigned provisional ratings to the notes to be issued by Sage AR Funding No. 1 PLC, the securitisation of a GBP 220 million floating-rate senior social housing backed loan advanced to Sage Borrower AR1 Limited. The senior loan is backed by 1,609 residential units located across England. For insight beyond the ratings, see the presale report.

Ratings

Sage AR Funding No.1 Plc
  • Date Issued:Oct 5, 2020
  • Rating Action:Provis.-New
  • Ratings:AAA (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:UKE
  • Date Issued:Oct 5, 2020
  • Rating Action:Provis.-New
  • Ratings:AA (high) (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:UKE
  • Date Issued:Oct 5, 2020
  • Rating Action:Provis.-New
  • Ratings:A (high) (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:UKE
  • Date Issued:Oct 5, 2020
  • Rating Action:Provis.-New
  • Ratings:BBB (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:UKE
  • Date Issued:Oct 5, 2020
  • Rating Action:Provis.-New
  • Ratings:BB (low) (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:UKE
  • Date Issued:Oct 5, 2020
  • Rating Action:Provis.-New
  • Ratings:B (sf)
  • Trend:Stb
  • Rating Recovery:
  • Issued:UKE
  • US = Lead Analyst based in USA
  • CA = Lead Analyst based in Canada
  • EU = Lead Analyst based in EU
  • UK = Lead Analyst based in UK
  • E = EU endorsed
  • U = UK endorsed
  • Unsolicited Participating With Access
  • Unsolicited Participating Without Access
  • Unsolicited Non-participating

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