Royal Bank of Scotland analysts think that the current price levels may limit the chances of a sustained rally through yearend, even if market conditions stay comparatively stable.
- Europe
Moody's Investors Service said today that it will rate the senior swap and the class A+ Notes totalling $943million equivalent, issued by the German state sponsored bank, KfW under the Promise Neo 2012- 1 transaction.
October 18 -
ABS East 2012, organized by Information Management Network (IMN), is on track to be a little bigger and more upbeat than last year’s conference.
October 18 -
Magnetar Capital LLC confirmed today that it has hired Carlos Mendez and Josh Eaton, both previously at Sandler O'Neill & Partners' structured finance group, to its fixed income group.
October 18 -
Moody's Investors Service published an "unsolicited" comment today, warning investors that it would not have assigned a 'Aaa' rating to the senior notes in the Royal Bank of Scotland's Isobel Finance No.1 PLC deal; Europe's first non-performing real estate loan portfolio CMBS.
October 18 -
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Springleaf Financial is planning a RMBS structured with one senior note, four mezzanine notes, two subordinate notes, one residual note, and one trust certificate, according to a Standard & Poor's presale report.
October 17 -
Shellpoint Partners' RMBS structure will accept loans facilitated by loan brokers and correspondents.
October 17 -
Fairway Outdoor Advertising has a $257 million billboard, whole-business securitization deal in the works, according to Fitch Ratings.
October 17 -
PHH Corp and Automotive Rentals, Inc. are in the market in the market with securitizations of fleet lease backed notes sized at $450 million and a $419mn respectively.
October 17 -
The U.K. is one of the few countries in Europe where securitization remains a significant funding source for mortgage originators but cheap central bank funding schemes and renewed economic deterioration could crowd out issuance and push up arrears, according to a Standard & Poor's report.
October 17 -
Increased new issue volumes and near record lows in the consumer ABS spreads have led to slightly wider spreads in both the primary and secondary markets, according to two securitization market reports.
October 16 -
It's been a very active year for non-traditional ABS. Almost $19bn in issuance year to date; higher than the full year in this space for any year since 2007, according to figures reported by Barclays.
October 16
