Europes speculative-grade corporate default rate is expected to rise slightly by next year amid lingering credit instability, slow economic growth and a growing concentration of companies in the lowest levels of junk-grade ratings.
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Conns Receivables Funding 2016-B is comprised of three tranches of notes sized at $552.78 million, including $391.84 million in Class A notes receiving a provisional BBB rating from Fitch Ratings. Fitch has capped the senior notes because of Conns higher loan defaults, management changes and credit-risk profile deterioration in recent years.
September 27 -
Takatas ongoing recall of airbags puts bonds backed by auto leases at increased risk of losses, Moodys Investors Service warns. Bonds backed by auto loans have only minimal exposure, however.
September 27 -
Nine global banks are testing blockchain and smart contract technologies to see if they can improve the syndicated loan market.
September 27 -
The Consumer Financial Protection Bureau on Monday fined a large auto title lender $9 million for failing to disclose the terms and costs of its title loans in three states and for illegally exposing consumers' information to their employers.
September 27 -
Mortgage insurance companies are getting a long-awaited shot at expanding their business with Fannie Mae and Freddie Mac. But it's shaping up to be less lucrative than they had hoped.
September 26
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Ditech Financial is returning to the securitization market to fund advances of principal and interest payments to mortgage bondholders.
September 26 -
Citigroup is marketing a $917 million commercial mortgage securitization, according to rating agency presale reports.
September 26 -
The portfolios structure includes a 930 million Class A notes stack carrying a floating rate coupon and provisional triple-A ratings from DBRS and Moodys Investors Service.
September 26 -
Beleaguered subprime auto lender Santander Consumer USA is once again restating its financial results dating to 2013.
September 25
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In the previous three years, DriveTime has not exceeded three auto loan securitizations in one year. With three months remaining in 2016, the subprime auto lender is already on deal No. 4.
September 23 -
Navistar Financial Dealer Note Master Owner Trust II Series 2016-1 is a $250 million notes transaction split into four classes of notes. It matches tranche-for-tranche and dollar-for-dollar the structure of its previous transaction in July 2015.
September 23
