John S. Hintze

Adjustments to Fitch’s CLO rating criteria place numerous deals under observation, but so far only rating upgrades have resulted.

Still relying on Libor, Brightwood SPV Advisors is approaching the market with its first collateralized loan obligation transaction of 2021, which is structured similarly to its last CLO priced in December 2020 and illustrates what a difference a year can make in terms of pricing.

Collateralized loan obligations may have to wait until 2022, because the market is seeking price discovery -- but has little incentive to jump first.

One issuer says inclusion of enhanced reporting is the first step toward putting the entire RMBS platform on the blockchain.

Fitch's negative sovereign-issuer rating for the U.S. casts a negative rating outlook on ECMC Group Student Loan Trust (ECMC) 2021-1, due to DOE reinsurance.

The Loan Syndications and Trading Association alerts market participants to the challenges of term-SOFR transition before year-end.

World Omni Financial Corp. is returning to the auto-loan ABS market with a jumbo transaction backed by collateral of higher credit quality than other similar deals.

High CLO volume stems partly from transactions whose refis or resets anticipated last year were deferred when spreads widened considerably amid the pandemic.

Borrowers’ preferred Libor replacement rate remains to be seen, but the Fed-backed ARRC hopes to break the stalemate with a forward-looking term structure.