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Nelnet's offering is backed by federally guaranteed loans; Darien Rowayton Bank's is backed by private loans refinancing the debt of borrowers with prestigious degrees and high incomes.
July 25 -
Barclays Bank and American Express are offering a combined $1.19 billion of bonds backed by credit card receivables, according to rating agency presale reports.
July 24 -
Loans with terms between 73 months and 75 months comprise 15.6% of the collateral for DRIVE Auto Receivables Trust 2017-2, up from 0.5% in 2017-1; yet Moody's Investors Service is holding its loss expectations stable.
July 24 -
The collateral has the highest concentration of longer-term loans of any Toyota deal to date: 42.6%; that's up 3.7 percentage point from the sponsor's previous deal.
July 21 -
Fitch Ratings expects net losses to reach 1.45% over the life of the deal, down from prior deals, thanks to the introduction of a selection criteria that stipulates a minimum FICO score of 650.
July 20 -
Structural features, not present in the sponsor's previous securitization, completed in 2012, allowed it to obtain a credit rating for the the senior and subordinate tranches.
July 20 -
The Series 2017-F1 transaction is secured by receivables from CAN$1.78b in dealer advances; the senior tranche of notes earned triple-A from both Moody's and DBRS.
July 13 -
Both offerings are backed primarily by leases on agricultural equipment, but Kubotah's has a much higher percentage of leases on new equipment.
July 12 -
Moody’s expects cumulative net losses of 0.55% of the collateral, while Fitch takes a more conservative view; it expects net losses to reach 1% due to a deterioration in the construction equipment sector.
July 9 -
Morreale was previously a managing director and associate general counsel in the mortgage and legal group at Goldman Sachs, where he provided legal counsel for businesses across a range of asset-backed securities
July 6