Type of ratings: Structured Finance — Other (OTH)

Rating value: Withdrawn

Outlook:  Not applicable

License: EthiFinance Ratings






Ethifinance Ratings retira la calificación de la emisión de bonos de CIMA FINANCE 2022-6 DAC. La emisión se amortizó completamente tras un acuerdo de terminación y acuerdo de compra, celebrado entre el vehículo, el cedente, los vendedores y el garante.

Sources of information

The credit rating assigned in this report has been made solicited by the originator of the assets, taking part in the process. The credit rating is based in:

  1. Public information from public access sources.
  2. Information provided by the originator of assets assigned or that shall be assigned to the securitization fund.

From the time of the assignment of the credit rating, all information provided by the originator of the assets, by the servicer of the assets (other than the originator) o by a third participant in the transaction, shall be reviewed and analyzed with the aim to assess the following issues:

  1. The performance of the credit quality of the assets comprising the collateral of the Fund.
  2. The level of credit enhancement.
  3. The evolution of the quantitative triggers of the Fund.
  4. The evolution of the qualitative triggers (counterparty risks).

The information has been thoroughly reviewed to ensure that it is valid, coherent and consistent and it is considered as satisfactory. Nevertheless, EthiFinance Ratings assumes no responsibility for the accuracy of the information provided and the conclusions drawn from it.

Additional information

  • The rating was carried out in accordance with Regulation (EC) N°1060/2009 of the European Parliament and the Council of 16 September 2009, on credit rating agencies. Principal methodology used in this research are :
  • The rating scale used in this report is available at
  • EthiFinance Ratings publishes data on the historical default rates of the rating categories, which are located in the central statistics repository CEREP, of the European Securities and Markets Authority (ESMA).
  • In accordance with Article 6 (2), in conjunction with Annex I, section B (4) of the Regulation (EC) No 1060/2009 of the European Parliament and of the Council of 16 September 2009, it is reported that during the last 12 months EthiFinance Ratings has provided ancillary services to related third parties of the rated entity, but not to the rated entity. However, according to our Conflict of Interest Policy, it does not involve a conflict of interest, since the aggregate sale does not exceed 5% of net turnover.
  • The issued credit rating has been notified to the rated entity, and has not been modified since.

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