Most of the collateral was acquired over the past year; that’s in contrast with the sponsor’s previous two transactions, in which a portion of the collateral was seasoned and refinanced from earlier transactions.
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Credit enhancement on the senior notes has risen to 36.25% from 28.7% to account for higher expected losses on the collateral; Kroll's base-case range is for 6.75% to 8.75% over the life of the deal.
March 8
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It's the busiest start to the year, post-financial crisis, for collateralized loan obligations, according to Thomson Reuters, and nearly 60% higher than the pace set in the first two months of 2017.
March 7
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Moody's thinks that the risk of early lease terminations is "marginal," since only 0.5% of the vehicles in the collateral pool are old enough to be impacted by bans in place in several European cities.
March 7
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The success of the government-sponsored enterprises' credit risk transfer programs shows that they can be the basis for housing finance reform.
March 7
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Previously, the rating agencies had capped their ratings at double-A, primarily due to CommonBond’s short operating history; it has only been making loans to borrowers with advanced degrees since 2013.
March 7
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Allstate Investment Management's latest collateralized loan portfolio includes a five-year-plus reinvestment period, and some added leeway on credit metrics and performance tests.
March 6
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The Education Department reportedly has plans to shield student loan servicers from state regulators, but the Conference of State Banking Supervisors isn't ready to cede its authority.
March 6
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The New York State Energy Research and Development Authority is marketing its fifth transaction financing local residential solar-panel installations; all of the notes carry an A rating from Kroll.
March 6
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Citigroup plans to launch an online bank that will be marketed nationally. It is one of several large companies with an online bank or niche platform in operation or on the drawing board.
March 6
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Citigroup and Goldman Sachs are securitizing a $405 million first mortgage taken out to help finance the private equity-led acquisition of the WoodSpring Suites low-priced extended-stay hotel chain.
March 5
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The $446 million Pearl Street Mortgage Company 2018-1 Trust is backed by 30-year, fixed-rate loans with credit characteristics in line with recent private-label prime jumbo transactions rated by Fitch Ratings.
March 5
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The online lender is taking a stand against businesses that sell assault weapons or that sell any type of firearms to people under 21.
March 5
