Provisional ratings were assigned to a new asset-backed securities (ABS) issue by New Zealand's Motor Trade Finances (MTF) on July 7. The forthcoming transaction, MTF Valiant Trust 2014, has an indicative volume of NZ$150 million (US$130.7 million) across seven tranches and is backed by New Zealand auto loan receivables, according to a ratings report by Fitch Ratings (Fitch).
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