Glen Fest

Deutsche Bank analysts said the newly downgraded junk status for Ford and its captive-finance subsidiary could mean more dependence on securitization to offset expected higher bank financing costs.

HPEFS 2019-1 is the debut $807 million offering sponsored by Hewlett-Packard Financial Services Co. (HPEFS), in an asset-backed offering backed by business leases and loans that are financing small-ticket PC, networking and mobility equipment for both large and small businesses.

The idea of forgiving student debt has gained traction in the Democratic presidential debates. Undiscussed so far: the significant impact any program could have on the roughly $175 billion of securities backed by student loans.

Managers appear to be increasingly safeguarding portfolios from a potential downturn by dumping distressed assets.

Driven Brands, which operates and manages over 2,700 Maaco, Meineke and other branded auto-service stores, is marketing $275 million in a new issuance from its master trust established four years ago.

Ally Bank, Capital One Auto Finance and BMW Financial Services of North America launched new note offerings, which will add to the year-to-date of $35.2 billions across 32 prior deals.

Charge-offs in prime bank cards fell to 3.01%, a third consecutive month in the sector. Meanwhile, retail-card ABS had its best charge-off performance since October 2018.

In an SEC filing, the Chicago-based airlines announced it had priced three classes of enhanced quipment trust certificates for the delivery of nine Boeing widebody aircraft and 10 regional Embraer jets.

A Silicon Valley mega-office-tower complex that is home to both Amazon and Facebook corporate offices is making another appearance in a conduit commercial mortgage-loan securitization.

EJF Capital is launching its seventh securitization of subordinated bank debt, via a CDO vehicle that allows smaller banks to raise capital more cheaply and efficiently for regulatory purposes.