London, 22 April 2013 -- Moody's Investors Service has today confirmed the rating of the senior notes of Private Residential Mortgages (Proprietary) Limited -- Series 1, a South African residential mortgage-backed security (RMBS). The rating was initially place on review to assess the adequacy of credit enhancement given the increased risk of economic instability and political uncertainty as reflected by the lowering of the country ceiling of South Africa. Subsequent to the notes being placed on review a restructuring of the transaction was proposed.

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