Glen Fest

The ratings agency on Wednesday placed whole-business securitizations from Applebee's/IHOP, TGI Friday's and Planet Fitness under review for potential downgrades.

FirstKey's securitization of well-seasoned, reperforming loans is the second such transaction in a week — amid an otherwise barren securitization market ground to a halt from the coronavirus crisis.

Veteran debt and equity analyst David Walker steer investment research for CIFC's $26 billion of assets under management, most of which are in long-term vehicles.

The credit watch involves single-borrower securitizations of commercial mortgages for high-priced resorts in Florida and Hawaii.

While collapsing market prices do not present immediate worries for CLO managers, the prospect of future downgrades and defaults becomes more problematic.

Although its share price has plunged alongside other mortgage REIT players during the coronavirus crisis, Chimera Investment Corp. (NYSE: CIM) this month is offering a vote in confidence in itself and its market.

A large percentage of Institutional investors lack confidence in the U.S. government’s ability to contain and eradicate the coronavirus outbreak. But few have plans to pull capital out of specific geographic regions due to the pandemic.

KKR is tapping the commercial mortgage securities market to finance a new loan secured by a portfolio of 71 industrial “last-mile” logistics properties owned by the investment firm in seven states.

Wells Fargo reports senior bondholders still hold significant protections against a worldwide slowdown in travel or a decline in aircraft values despite the reclassification of the global coronavirus outbreak as a pandemic.

Prices for major term loans issued by operators such as Marriott International, Hilton Worldwide and Caesars Entertainment have fallen in recent weeks as investors grow worried about the impact of the COVID-19 outbreak on global tourist and business travel.

The falling rates continue a three-year trend of improving performance across numerous commercial mortgage sectors including multifamily, office and retail.

The $400 million Toorak Mortgage Trust 2020-1 is the largest securitization to date for Toorak, which provides short-term institutional capital for individual and corporate real estate developers.

Exchange traded funds tracking leveraged-loan performance saw sharp declines on Monday, following a Friday leveraged loan index decline that was the steepest in nearly a decade.

The Structured Finance Association has canceled its Canadian industry conference in May, while IMN has called off a CRE CLO confab scheduled in NY this week.

Following four prior securitizations of prime auto-loan originations through its Carvana Auto Receivables Trust (CRVNA), the firm will sponsor its first pool of non-prime retail used auto loans underwritten via its e-commerce platform.

FirstKey Mortgage is sponsoring a rare pooling of manufactured housing loans in a $507.1 million securitization.

CoreVest American Finance and Amherst Financial have each launched new securitizations of single-family rentals, following the pricing Wednesday of the first SFR transaction of the year by Progress Residential.

Nelnet Student Loan Trust 2020-2, arranged by Bank of Montreal, is made up of nearly 50% of formerly delinquent loans that have been cured to current status.

Ample access to cash and debt, along with strong diversification strategies built into investment portfolios, will help asset managers and junk-rated corporate borrowers absorb any near-term substantial economic headwinds, according to Fitch Ratings.

Even with the global-trade wars’ ongoing financial pressure on the U.S. agricultural industry, John Deere Capital Corp. has yet to see serious signs of distress from borrowers who’ve financed farm equipment through the Deere & Co. lending unit.