Donna M. Mitchell

In one notable change from the previous deal, PART 2021-1, the percentage of bankruptcy collateral decreased to 18.58%, from 44.27%.

Two potential pools that could be securitized—either a $1.15 billion pool, or another amounting to $1.45 billion, secured mostly by agricultural equipment.

The sequential-pay structure and non-declining reserve account are expected to result in a buildup of credit enhancement supporting the rated notes.

The notes will benefit from the irrevocable right to impose, bill and collect a winter-event securitization charge from customers in Summit's Oklahoma service territory.

Estimates of economic losses exceed $50 billion, considering a storm path similar to that of Hurricane Charley, plus higher population and population values.

If the Home Price Percentage declines by at least 30%, compared with the (HPP) value on the pool's cutoff date, the class A notes will reduce to 0.25%.

The current collateral pool carries loans with shorter terms, shorter periods of seasoning, and higher non-zero credit scores, compared with Westlake 2022-2.

Principal distributions allow for amortization of all senior and subordinate bonds based on credit enhancement targets set for performing and nonperforming loans.

Despite the concentration of imaging equipment, those types of equipment have generally outperformed other equipment types within the GreatAmerica portfolio.

After landing in Florida as the second-strongest storm on record, Ian is now is expected to re-strengthen and menace South and North Carolina and Georgia.

Reach Financial's consolidation loans make up 34.8% of the collateral pool, compared with 13.3% in Reach 2022-1, with fewer loans in the lower-risk tier.

The transaction, which is associated with a high-quality customer base, is the first mobile device financing ABS from T-Mobile Financial, or Finco.

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

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.

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.

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.

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.

Fitch Ratings notes that Federal Family Education Loan Program ABS is more exposed to basis risk when there is little credit enhancement and excess spread.

Some loans in the guaranteed portfolio have adjustable-rate coupons based off of Libor, but PacWest will make the interest payments based on the SOFR index.

Some 95.8% of loans in the statistical asset pool as of the statistical calculation date were supported by guarantees with a WA non-zero guarantor FICO of 716.