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      Instrument data
      Issuer
      Red Sea SPV S.r.l.
      Currency
      EUR
      ISIN
      IT0005336943
      Instrument volume
      1,656,504,000
      Maturity date
      29/10/2038
      -
      B SF Outlook: None
      B SF Outlook: None
      Latest change
      Downgrade
      23/12/2024
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Leonardo Scavo Lead analyst
      Paula Lichtensztein Committee chair
      Scope downgrades class A notes issued by Red Sea SPV S.r.l. - Italian NPL ABS

      23/12/2024 Rating announcement EN

      Scope downgrades class A notes issued by Red Sea SPV S.r.l. - Italian NPL ABS

      Scope downgrades class A notes issued by Red Sea SPV S.r.l., a static cash securitisation of Italian non-performing loans.

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      No rating impact on Red Sea SPV S.r.l. after ReoCo structure implemented - Italian NPL ABS

      11/7/2024 Monitoring note EN

      No rating impact on Red Sea SPV S.r.l. after ReoCo structure implemented - Italian NPL ABS

      Scope Ratings announces that the introduction of a ReoCo would not, in and of itself, result in a reduction or withdrawal of the current rating of the class A notes.

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      Scope downgrades class A notes issued by Red Sea SPV S.r.l. Italian NPL ABS

      23/1/2024 Rating announcement EN

      Scope downgrades class A notes issued by Red Sea SPV S.r.l. Italian NPL ABS

      Scope Ratings GmbH (Scope) downgrades the class A notes issued by Red Sea SPV S.r.l., a static cash securitisation of Italian non-performing loan receivables, following a monitoring review.

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      Scope downgrades Class A notes issued by Red Sea SPV S.r.l. Italian NPL ABS.

      21/2/2023 Rating announcement EN

      Scope downgrades Class A notes issued by Red Sea SPV S.r.l. Italian NPL ABS.

      Scope Ratings GmbH (Scope) downgrades the Class A notes issued by Red Sea SPV S.r.l., a static cash securitisation of Italian non-performing loan receivables, following a monitoring review.

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      Scope has completed a monitoring review of Red Sea SPV S.r.l. – Italian NPL ABS

      19/4/2022 Monitoring note EN

      Scope has completed a monitoring review of Red Sea SPV S.r.l. – Italian NPL ABS

      No action has been taken on class A notes issued by Red Sea SPV S.r.l. following the monitoring review.

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      Scope has completed a monitoring review for Red Sea SPV S.r.l. - Italian NPL ABS

      26/5/2021 Monitoring note EN

      Scope has completed a monitoring review for Red Sea SPV S.r.l. - Italian NPL ABS

      No action has been taken on class A notes issued by Red Sea SPV S.r.l. following a monitoring review.

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      Scope downgrades class A notes of Red Sea SPV S.r.l. - Italian NPL ABS

      4/6/2020 Rating announcement EN

      Scope downgrades class A notes of Red Sea SPV S.r.l. - Italian NPL ABS

      Scope Ratings has reviewed the annual performance of Red Sea SPV 2018 S.r.l., a static cash securitisation of a portfolio of Italian non-performing loans originated by Banco BPM and Banca Popolare di Milano.

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      Red Sea SPV performance continues to support the rating of class A – Italian NPL ABS

      11/6/2019 Monitoring note EN

      Red Sea SPV performance continues to support the rating of class A – Italian NPL ABS

      Scope Ratings has reviewed the annual performance of Red Sea SPV S.r.l., which remains in line with expectations. No rating action is warranted as a result.

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      Scope assigns BBB(SF) to class A notes issued by RED SEA SPV S.R.L.– Italian NPL ABS

      15/6/2018 Rating announcement EN

      Scope assigns BBB(SF) to class A notes issued by RED SEA SPV S.R.L.– Italian NPL ABS

      Scope Ratings has today assigned final ratings to the notes issued by RED SEA SPV S.R.L., a static cash securitisation of a EUR 5,097m portfolio of Italian non-performing loans.

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      Date Title
      26/06/2018 Rating Report, June 2018