WB Trust 2008-1 Class A Notes Rating Affirmed And Removed From UCO; Remains On CreditWatch Negative

MELBOURNE (S&P Global Ratings) Sept. 3, 2019--S&P Global Ratings today 
affirmed its rating on the class A prime residential mortgage-backed 
securities (RMBS) issued by Perpetual Trustee Co. Ltd. as trustee for WB Trust 
2008-1. At the same time, we removed the under criteria observation (UCO) 
identifier from the rating. The class A note remains on CreditWatch with 
negative implications, where it was placed on July 30, 2019 (see "Various 
Australian RMBS Ratings Placed On CreditWatch Negative Following Downgrade of 
Lenders' Mortgage Insurers," published on July 30, 2019).

We placed our rating on the notes under criteria observation following the 
release of our "Counterparty Risk Framework: Methodology And Assumptions" 
criteria on March 8, 2019. We removed the UCO identifier following a change to 
the swap documentation via an amending deed. The amendment brings the swap 
documentation in line with our revised counterparty criteria, with a 
documented collateral framework of 'strong'.

We work across the world

From London to San Francisco, to our home base in (Saint Helier) Jersey, we’re looking for extraordinary and creative scientists to help us drive the field forward.

AC Investment Inc. currently does not act as an equities executing broker or route orders containing equities securities. If AC Invest’s business model were to change and it begins routing non-directed orders in NMS securities, it will comply with the disclosure requirement of Rule 606.

77 Massachusetts Avenue Cambridge, MA 02139 617-253-1000 pr@ademcetinkaya.com