Structured Finance ABCP
Outlook: No Trend
Action date: 07/08/2022
Rating action: Affirmed


Axesor Rating affirms HT WORKING CAPITAL 1 A+(sf) rating. HT WORKING CAPITAL 1, is a compartment securitization fund implemented under Note programs ("Notes"). The fund is open for both assets and liabilities sides, renewable and expandable and set up with the purpose of financing the acquisition of receivables derived from factoring receivables. At the date of incorporation, the Fund is set up with the first compartment (HT WORKING CAPITAL 1) through which TRADE & WORKING CAPITAL, S.A.U, will assign receivables derived from factoring receivables and whose collection is guaranteed by means of a credit insurance policy signed with EULER HERMES, S.A.


ISIN: ES0505526006
Date last rating: 07/08/2022
Date first rating: 12/03/2020