LINKFACTOR TRADE RECEIVABLES EUR 1 FT


Type of ratings: Structured Finance ABCP

Rating value: A+

Outlook: No Trend

License: EthiFinance Ratings

Solicited

EthiFinance Ratings ("the Agency") assigns for the first time a "A+" Rating to the Notes issued by LINKFACTOR TRADE RECEIVABLES EUR 1, F.T. The initial rating determined for this financial instrument is for a new issue. The Rating of A+ given to this Transaction is based on two main factors; the first is the Insurance Policy, with a LOI of 35.3 million euros, used as credit enhancement for the transaction while the Insurer of this Policy is Euler Hermes France, which has a Credit Rating of "AA-" with "Stable" outlook by EthiFinance Ratings; in second place, is the loan origination quality and operational capacity shown by Gedesco in the past years..

Ratings

Rating action: Under Observation

Review due to other reasons.

Action date: 2023-07-05

Date last rating: 2022-12-27

Date first rating: 2022-12-27

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