A new €402.4 million ($532 million) Finnish auto loan securitization is marketing this week from SCF Rahoituspalvelut Limited.
Moody's Investors Service will rate the notes and has assigned a provisional 'Aaa' rating to the class A notes due January 2020. A subordinated and unrated class B is also expected to be issued.
The deal is backed by auto loans made to obligors in Finland by Santander Consumer Finance Oy, which is a wholly owned subsidiary of Santander Consumer Finance S.A.
This is the first Moody's-rated public securitization transaction sponsored by Santander Consumer Finance Oy and the first Moody's-rated public Finnish ABS auto ABS.