OREANDA-NEWS. Fitch Ratings says that the proposed merger between RESIMAC Limited (RESIMAC) and Homeloans Limited (Homeloans) will have no rating impact on the RMBS transactions originated and serviced by RESIMAC. RESIMAC's origination and servicing platform, as well as its systems and procedures will not change, and RESIMAC will continue to manage the existing transactions.

On 20 July 2016, RESIMAC announced it is entering a Scheme Implementation Agreement with Homeloans under which the latter will merge with RESIMAC. Existing RESIMAC shareholders are likely to hold 72.5% of the merged entity, and existing Homeloans shareholders will hold the rest. The board of the merged group will comprise two directors appointed by Homeloans and three directors appointed by RESIMAC, according to the announcement.

The current ratings are as follows:

RESIMAC Triomphe Trust - RESIMAC Premier Series 2012-1:

Class A1-R notes 'AAAsf'; Outlook Stable;

Class A2 notes 'AAAsf'; Outlook Stable;

Class AB notes 'AAAsf'; Outlook Stable.

RESIMAC Triomphe Trust - RESIMAC Premier Series 2013-1:

Class A2-R notes 'AAAsf'; Outlook Stable;

Class A3 notes 'AAAsf'; Outlook Stable;

Class AB notes 'AAAsf'; Outlook Stable.

RESIMAC Triomphe Trust - RESIMAC Premier Series 2014-1:

Class A1 notes 'AAAsf'; Outlook Stable;

Class A2 notes 'AAAsf'; Outlook Stable;

Class AB notes 'AAAsf'; Outlook Stable

RESIMAC Triomphe Trust - RESIMAC Premier Series 2015-1:

Class A notes 'AAAsf'; Outlook Stable;

Class AB notes 'AAAsf'; Outlook Stable;

RESIMAC Triomphe Trust - RESIMAC Premier Series 2016-1:

Class A1 notes 'AAAsf'; Outlook Stable;

Class A2 notes 'AAAsf'; Outlook Stable;

Class AB notes 'AAAsf'; Outlook Stable;

RESIMAC Bastille Trust - RESIMAC Series 2013-1NC:

Class A1 notes 'AAAsf'; Outlook Stable;

Class A2 notes 'AAAsf'; Outlook Stable;

RESIMAC Bastille Trust - RESIMAC Series 2015-1NC:

Class A1 notes 'AAAsf'; Outlook Stable; and

Class A2 notes 'AAAsf'; Outlook Stable