Donna M. Mitchell

Elliott will advance the firm's strategic initiatives and business development initiatives and ensure that customer experiences are seamless.

The percentage of larger loans in HGVT-2 is 20.08%, S&P said. While that is lower than the 23.2% seen in the previous deal, it is still too high.

Most of the pool, 68.6%, is in the repayment phase, while 19.1% of the loans in the pool are in deferment.

One tenant accounts for 59.7% of the leased capacity and 56.4% of annualized adjusted base rent, but also has a AAA rating.

The entire pool was originated using agency underwriting, with PennyMac being the largest originator, and accounting for 66.1% of the mortgage loans.

Data centers across 20 markets will provide the revenues to support the notes. Also, the largest customer accounts for 6.5% of annualized monthly recurring revenue (AMRR).

There is no amortization during the entire term, and interest-only payments are based on the one-month Secured Overnight Financing Rate (SOFR), plus a spread of about 3.74%.

Moody's finds that Honda's underlying pool has a strong credit profile, and that tier A loans account for 77.1% for the base principal note amount.

Notes are expected to pay a coupon of 4.5% on the A1 through M2 tranches, compared with a 5.25% coupon on the previous deal.

Throughout Kolyer's career he innovated securitization structures with commercial real estate and residential mortgages, commercial and consumer receivables.

A credit analyst manually reviews the pool's underwriting decisions, instead of just leaving it all to automation.

Built around flexible capital that can grow alongside leading originators, the strategy will seek asset-based opportunities in North America first, then add European credit markets.

The deal faces a few upfront credit challenges, including the fact that the collateral's credit quality has weakened.

The securitization was also oversubscribed, with participation from more than 25 institutional investors, which will receive a blended fixed rate of 5.71%, the company said.

Certain provisions in the deal allow for changes in the collateral pool, including allowing for discretionary substitutions of up to 2.0% of the number of properties.

While the CPSART program, especially the 2022 and 2023 series, was performing worse than its initial or revised expectations, the 2025-C collateral was relatively better.

Under the ticker JABS, the fund will invest in high-quality, investment grade securitized assets meant to give retail investors access to high-quality and short duration assets.

The portfolio consists of first-lien, fixed-rate and interest-only balloon RTLs. They were originated with original terms of six to 24 months to maturity.

MMP Capital has sold securitized bonds backed by equipment before, this will be the first one secured by medical aesthetic equipment contracts

Santander Drive Auto Receivables Trust, 2025-3, can be upsized to $2.1 billion, and the capital structures are the same for both pool sizes.