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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
      -
      BB- SF Outlook: None
      BB- SF Outlook: None
      Latest change
      Downgrade
      23/01/2024
      General information
      Rating
      Public
      Solicited
      With issuer participation
      UK endorsed
      EU Rated
      Leonardo Scavo Lead analyst
      Antonio Casado Committee chair
      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