Donna M. Mitchell

RFS Asset Securitization could issue additional notes, up to $500 million, at any time during the revolving period, which could be as soon as June 2024.

Industry observers say they expect current market conditions to support healthy deal flow through the end of 2021.

In a deal underwritten by RBC, the initial note balance could either be $1.2 billion or $1.7 billion, depending on market conditions at the time of pricing.

Most of the pool, 63.7%, consists of new agricultural equipment, followed by new construction equipment and new turf equipment.

While the underlying pool of loans is of strong credit duality, concerns abound about how COVID’s economic impact could negatively affect pool performance.

The survey results signal a greater willingness on the part of portfolio managers to carry or add additional credit risk to their portfolios.

The third transaction for 2021 is largely secured by automobile contracts issued to subprime buyers of new and used automobiles and motorcycles.

Primarily, the underlying mortgage collateral consists of 1,982 peak-vintage seasoned and re-performing loans, about 90% of which have been modified.

The Capital One Multi-Asset Execution Trust, a master trust, resurfacing after 2019, has the flexibility to issue either a single-note or multiple-note series.

Single-family rental houses and townhomes underpin the securitization, with a feature to transfer or obtain a release of any property that meets conditions.

The sweet 'WBS' deal will raise funds from Nothing Bundt Cakes' vast franchise operation to repay corporate debt and help fund general corporate purposes.

Asset-backed trusts continue to benefit from how consumers allotted their stimulus and relief payments. Consumer and marketplace loans were part of that.

The self-employed professionals posted slightly weaker credit fundamentals, as they were more severely affected by the pandemic due to business closures.

Issuers of leveraged loans appear ready to use SOFR, the popular alternative to LIBOR, putting leveraged loans a step ahead of the market.

The underlying loans in CSMC 2021-NQM4 have a 738 weighted average model FICO score, relatively low leverage, and a sustainable loan-to-value ratio of 75.2%.

Roughly 98% of unpaid principal balances on the loans have been modified, so FitchRatings increased its loss expectations because of the delinquent loans.

The deal has a shifting-interest structure that determines senior principal distributions by comparing the senior bond size to the collateral balance.

Existing and future domestic franchise agreements, plus royalties on company-operated restaurants are some company lines of revenue pledged to the 2021-1 trust.

Extended Stay America is considered a pandemic success story, because its affordable monthly rates and configuration appealed highly to pandemic personnel.

The deal will test the resilience of structure’s credit mitigation measures, considering Hertz's dependence on air travel and pending emergence from Chapter 11.