OREANDA-NEWS. Fitch Ratings has today assigned Red & Black Prime Russia MBS No.1 Limited's Class A, Class B, Class C notes final ratings of 'A', 'BBB+' and 'BB+' respectively.

The transaction is a securitisation of mortgage loans originated by DeltaCredit Bank ("DCB"), or purchased from partner banks of DCB. The latter is a financial institution specialised in residential mortgage lending that is wholly owned by Societe Generale ('AA'/'F1+'). DCB is the third-largest mortgage loan originator in the Russian Federation ('BBB+')
The issuance totals USD206.3m and represents the debut RMBS transaction for DCB.