TEXT-Fitch: Bilkreditt 2 Limited's ratings unaffected by deed of amendment
Dec 18 - Fitch Ratings says that there is no impact on Bilkreditt 2 Limited's ratings following the execution of a deed of amendment. Fitch has been notified that a deed of amendment has been executed regarding the transaction's servicer downgrade triggers. At closing, borrower notification was to occur and a back-up servicer to be put in place within 10 days if the servicer's rating fell below 'BBBsf'. A servicer termination event was triggered if the rating fell below 'BBB-sf'. These triggers have now been amended to reflect that borrower notification will occur and a back-up servicer put in place within 10 days if the servicer rating falls below 'BBB-sf'. The rating-related servicer termination event has been removed. Fitch considers that this amendment does not impact the rating of the notes as the measures in place are still strong enough to mitigate any potential servicer interruption risk. Additional information is available at www.fitchratings.com.
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