Australia's Perpetual is in the market with an RMBS called Barton Series 2011-1. The five-tranche deal is rated by Standard & Poor's and Fitch Ratings.

S&P, which is rating four classes of the prime RMBS transaction, said that its ratings are based on the expectation that the different mechanisms to support liquidity within the deal are enough under the agency's stress assumptions supporting timely payment of interest. The mechanisms includes a liquidity reserve equal to 1.5% of the invested amount of all notes and principal draws,

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