Fitch Ratings assigned ratings to Liberty Series 2025-1 Trust's mortgage-backed pass-through floating-rate bonds, according to a Monday release.
The issuance consists of notes backed by a pool of first-ranking Australian conforming and non-conforming residential full- and low-documentation mortgage loans originated by Liberty Financial Group (ASX:LFG).
The trust's classes A1a, A1b, and A2 were assigned AAA(EXP)sf ratings. Meanwhile, the classes B, C, D, E, F, and G were assigned NR(EXP)sf ratings.
The outlook is stable.
The collateral pool for the bonds clocked in at AU$750 million and consisted of 1,719 obligors as of Dec. 16, 2024, with a weighted average current loan-to-value ratio of 62.4% and a weighted average indexed current loan-to-value ratio of 60.1%.
The notes will be issued by Liberty Funding in its capacity as issuer of Liberty Series 2025-1 Trust, a separate and distinct trust created under a master trust deed, it said.