Proceeds will cover transaction fees and expenses, mainly, but could also be applied to general corporate purposes, including future brand acquisitions.

While the agency affirmed the bank's current high ratings, it also cited instances of noncompliance, which led to the downgrade.

The same day Provident Financial Services announced it had agreed to buy Lakeland for $1.3 billion, the seller disclosed an ongoing fair-lending investigation by the Justice Department. Provident said it has "not heard anything" that would give it pause.

The all-stock acquisition of Lakeland Bancorp, expected to close in the second quarter of 2023, would create a combined bank with more than $25 billion of assets.

KBRA holds a mixed point of view about SAFCO's long charge-off policy, at 181 days overdue, while the deal-level chargeoff threshold is 121 days.

The new law is expected to strengthen renewable energy market development, but ongoing supply-chain complications may hinder a jump in deals.

The month ended with 54,000 less properties for which the borrower was at least 30 days or more late on their payments, Black Knight said.

In a market where mortgage rates are skyrocketing, Fitch says the home price values of the current pool are 10.2% above a long-term sustainable level.

Experts review scenarios that could cause Federal Reserve chairman Jerome Powell to reverse course on a decision this week that left some lenders breathing a sigh of relief.

Unlike most bank-sponsored, credit-linked note deals, a cash collateral account will secure the note payments to the deal, after the sponsor sells initial notes.

On the other hand, the economists from the UCLA Anderson Forecast claim the U.S. is not currently in a recession and that the chance of a recession in the next 12 months is less than 50%.

The transaction includes a number of key differences, including that 2022-C contains with 72-month terms in its A1 and A2 loan grades for the first time.