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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 -
The liquidation of Veneto Banca and Banca Popolare puts increasing pressure on other banks in the Eurozone to reduce their holdings of bad loans, according to Fitch Ratings; it remains to be seen whether securitization will play a significant role.
July 2 -
College Ave, founded by two former Sallie Mae executives, makes both in-school and refinance loans; borrowers have the option of making payments before they graduate
June 27 -
Credit enhancement on the senior notes has been increased to account for a decline in residual values of some models of cars.
June 21 -
The lender increased credit enhancement for the subordinate tranches of Springleaf Funding Trust 2017-A to offset lower FICOs and larger balances.
June 19 -
The bonds were privately placed with a group of investors led by CIT Group; CohnReznick Capital served as advisor for the transaction
June 19