Fitch: Removal of MGIC LMI Has No Rating Impact on 2 AIMS RMBS Transactions

(The following statement was released by the rating agency)SYDNEY, January 04 (Fitch) Fitch Ratings confirms that the removal of lender's mortgage insurance (LMI) provided by MGIC Australia Pty Ltd (MGIC) from two AIMS RMBS transactions will not result in a downgrade or withdrawal of the ratings of the rated notes.AIMS 2005-1 Trust has two loans with MGIC LMI cover, with zero balances, while AIMS 2007-1 Trust has two loans covered by MGIC LMI, that form 1.2% of the pool. On 18 December 2015, these loans were insured with Genworth Financial (N:GNW) Mortgage Insurance Pty Ltd (Insurer Financial Strength rating: A+/Stable). Sequential amortisation of the AIMS transactions has resulted in the Class A notes being LMI independent.The current ratings are as follows:AIMS 2005-1 Trust:AUD9.7m Class A: 'AAAsf'; Outlook Stable; andAUD12.8m Class B: 'Bsf'; Outlook Stable.AIMS 2007-1 Trust:AUD10.1m Class A: 'AAAsf'; Outlook Stable; andAUD16.3m Class B: 'Bsf'; Outlook Stable.Contacts: Surveillance Analyst Hai Duong LeAssociate Director+61 2 8256 0358Fitch Australia Pty Ltd, Level 15, 77 King Street, Sydney, NSW 2000Committee Chairperson Ben McCarthyManaging Director+612 8256 0388Media Relations: Leni Vu, Sydney, Tel: +61 2 8256 0304, Email: leni.vu@fitchratings.com.Additional information is available at www.fitchratings.com.ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S FREE WEB SITE AT WWW.FITCHRATINGS.COM. PUBLISHED RATINGS, CRITERIA, AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE, AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE. Fitch Australia Pty Ltd holds an Australian financial services licence (AFS licence no. 337123) which authorises it to provide credit ratings to wholesale clients only. Credit ratings information published by Fitch is not intended to be used by persons who are retail clients within the meaning of the Corporations Act 2001.