S&P Global Ratings assigned its credit ratings to Asimi Funding 2025-1 PLC's class A, B-Dfrd, C-Dfrd, D-Dfrd, E-Dfrd, F-Dfrd, G-Dfrd, and X-Dfrd notes. At closing, the issuer also issued unrated Y and Z certificates. Asimi Funding 2025-1 is the second public securitization of a portfolio of unsecured consumer loans originated and serviced by Plata Finance Ltd. (Plata) in the U.K. As part of the transaction's prefunding mechanism, the issuer may purchase additional loans by the first interest payment date, up to a maximum amount of £52.4 million (21.4% of the potential maximum portfolio). The notes redeem pro rata (class A to G-Dfrd notes), subject to sequential amortization triggers. The class A notes benefit from a dedicated fully funded reserve fund