Fitch Ratings has given expected ratings to RESIMAC Triomphe Trust - RESIMAC Premier Series 2024-2's mortgage-backed pass-through floating-rate notes, according to a Tuesday release.
These include AAA(EXP)sf long-term ratings on the class A1, A2 and AB notes as well as NR(EXP)sf ratings on the class B to G notes.
RESIMAC originated the mortgage loans used to back the issuance, while Perpetual Trustee will issue the notes as trustee of RESIMAC Triomphe Trust - RESIMAC Premier Series 2024-2.
The ratings reflect the credit enhancement that serves as cushion for expected losses, narrower liquidity risk and low operational risk, Fitch said.
Meanwhile, the stable outlook mirrors Australia's sustained economic growth and tight labor market that support portfolio performance.