John S. Hintze

Atlas SP structures deal with a "meaningful" concentration of investment properties. Still, it meets investor demand.

The private, pass-through structure includes elements of both public transactions and those with bank expertise.

The overlooked segment offers a premium over AAAs backed by significant subordination, the firm says.

The $300 million offering marks private-market-specialist StepStone's inaugural middle market CLO.

ABS overall should outperform, but risks remain in specific areas

The deferred pay structure offers investors a premium over traditional residential transition loan securitizations.

Deal finds lower pricing and adds a new class of AAA notes.

Higher charges for BB bonds would only marginally impact CLO market.

Tighter spreads are expected as floating-rate demand continues.

The deal mitigates mortgage-pool risk with CLO credit strengths

Unlike some recent RMBS deals, both exclude riskier interest-only loans and those supporting investment properties.

Legacy RMBS structured to withstand challenging mortgage market

Delay refinancing two loans prompts drop to below investment-grade for one class of CMBS

Offshoot of well-known European asset manager taps JP Morgan to structure deal

New arrivals to the ABS market seek investors in less than stellar-rated bonds.

Top banks are underwriting the deal, but most of the securitization's loans lack documentation.

Aggregator counters the risk of loans' low starting rate with a strong borrower profile.

The new deal will increase the sponsor's 2024 issuance to more than $3 billion.

The second-lien loans face low recovery post-default, especially if home prices drop.

Fitch describes the Goldman-arranged CLO as similar to Blackstone's Lewey Park CLO, which closed last month.