OREANDA-NEWS. Fitch Ratings has confirmed RESIMAC Premier Series 2013-1's ratings following the issuance of AUD238.0m Class A2-R mortgage backed floating rate notes. The ratings are as follows:

AUD238.0m Class A2-R notes: 'AAAsf'; Outlook Stable;
AUD166.7m Class A3 notes: 'AAAsf'; Outlook Stable;
AUD44.6m Class AB notes: 'AAAsf'; Outlook Stable ;
AUD26.3m Class B1 notes: Not Rated; and
AUD4.1m Class B2 notes: Not Rated.

The notes are issued by Perpetual Trustee Company Limited in its capacity as trustee for RESIMAC Triomphe Trust in respect of Premier Series 2013-1.

The 'AAAsf' Long-Term Rating was originally assigned to the Class A2-R tranche with a zero balance at initial settlement on 19 March 2013. The issuance of AUD238.0m Class A2-R notes, plus application of any amounts accumulated in the redemption fund, have been used to redeem the outstanding Class A2-B notes at their maturity today.

KEY RATING DRIVERS
The 'AAAsf' Long-Term Ratings assigned to the Class A2-R, A3 and AB notes are based on: the quality of the collateral; the 15.6% credit enhancement (CE) provided to the Class A2-R and A3 notes by the subordinate AB, B1 and B2 notes; the 6.3% CE provided to the Class AB notes by the subordinate B1 and B2 notes; the liquidity facility of 1.05%; and RESIMAC's underwriting standards and servicing capabilities.