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Section: Rating - Fitch Ratings has assigned Tesco Property Finance 4 Plc's forthcoming fixed-rate expected GBP680.0m class A notes, due October 2040, an expected 'A-sf' rating with Stable Outlook.
The expected rating addresses the timely payment of interest and timely repayment of principal. Fitch gave consideration to the integrity of the legal and financial structures in assigning the expected rating to the forthcoming issue. The final rating is contingent upon the receipt of final documents conforming to information already received.
The transaction is a securitisation of rental income derived from 21 retail stores located in the UK. The properties are fully let …