Fitch has placed expected ratings on RedZed Trust Series 2024-3's mortgage-backed pass-through floating-rate notes, according to a Monday release.
These include AAA(EXP)sf long-term ratings for the class A-1-L, A-1-A and A-2 notes, among others.
RedZed Lending Solutions originated the mortgage loans used to back the notes.
Perpetual Trustee will issue the notes as trustee of RedZed 2024-3.
The collateral pool amounted to AU$600 million and was comprised of 841 obligors as of Aug. 31.
The ratings reflect ample credit enhancement, limited liquidity risk and low operational and servicing risk.
The outlook is stable, with portfolio performance hinging on Australia's continued economic expansion and tight labor market.
However, Fitch expects tight monetary policy and lingering inflation to negatively influence domestic demand.
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