The move convinced Kroll Bond Rating Agency to upgrade $95 million of securities, some of which had been under review for a possible downgrade for over a year; Kroll affirmed the ratings of another $63 million of bonds.
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Exposure to PetSmart's now triple-C rated loan will strain the distressed debt limits of 24 collateralized loan obligations, while two other deals face potential interest-diversion test failures.
December 21
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Banking regulatory agencies Thursday announced that they would raise the aggregate loan commitment threshold for syndicated loans to be included in the Shared National Credit program from $20 million to $100 million.
December 21
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Fannie Mae and Freddie Mac will be allowed to build capital buffers to protect against losses under an agreement between the Treasury Department and the Federal Housing Finance Agency announced on Thursday.
December 21
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The Kurban Group, a Lebanese travel conglomerate, recently closed on a rental fleet securitization that, despite its small size, represents some notable "firsts."
December 21
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Only 2.6% of speculative-grade rated firms with public financials carry Moody's weakest liquidity rating, a drastic reduction since March 2016, helped by a recovery in the oil and gas sector.
December 20
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The two government-sponsored enterprises have relied on the “classic” FICO credit scoring model for the past 12 years. But the Federal Housing Finance Agency is weighing whether the GSEs should upgrade to more recent scoring alternatives.
December 20
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Bridgeview, Illinois is the second Illinois home rule community to take advantage of new borrowing program.
December 20
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The Senate approved the final tax reform plan 51-48 early Wednesday, the second-to-last obstacle before sending it to President Trump for his signature.
December 20
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At the end of September, the share of loans in MeasureOne’s private student loan database in forbearance was 2.88% of the outstanding balance, up 26.81% on the year.
December 20 -
The collateralized loan obligation market is ending the year at nearly full throttle with nearly $18 billion in new deal/refi volume month-to-date, with more on the way.
December 20
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Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.
December 19
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A £366.2 million mortgage on 127 industrial properties is being used as collateral for a transaction called Taurus 2017-2 UK DAC.
December 19
