Fitch Ratings has given expected ratings to ConQuest 2024-1 Trust's mortgage-backed pass-through floating-rate notes, according to a Thursday release.
These include AAA(EXP)sf long-term ratings for the class A1 and AB notes as well as NR(EXP)sf ratings for the class B to F notes.
The ratings consider credit enhancement that reduces expected losses, decreased liquidity risk and low operational and servicer risk.
The outlook is stable, with the portfolio performance aided by Australia's sustained economic growth and tight labor market.
MyState Bank originated the mortgage loans that backed the notes while Perpetual Trustee will issue the notes as trustee of ConQuest 2024-1.
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