CDOs/CLOs

Assured Guaranty posted a small profit for the first quarter of 2012 and on Thursday announced a deal with Deutsche Bank over soured MBS.

MBIA lost more than a half billion dollars in the 1Q12. The company’s adjusted pre-tax loss was $548 million in the quarter, compared to a $25 million profit in the first quarter of 2011. Its adjusted book value slipped to $32 a share from $34.50.

Middle market CLOs have remained relatively scarce since the financial crisis, as it’s still difficult for deal sponsors to get financing to warehouse loans to small and medium-sized companies.

Mayer Brown has hired Barbara Goodstein as a partner in the banking and finance practice in New York. She was formerly a partner with Dewey & LeBoeuf.

A suit that started with over a dozen plaintiffs against MBIA is down to two after Natixis Financial Products withdrew from the suit Monday.

Moody's Investors Service has updated its structured finance CDO methodology. These deals' ratings consider the credit assessments of non-Moody's rated assets that are inferred from the ratings given by other rating agencies.

After the Maiden Lane III MAX CDO sale, last week roughly $1.5 billion face value of super-senior CDO bonds or the entire remaining balance of WAVE 2007-1 and 2007-2 A1s were put out for bid, according to JPMorgan Securities analysts reported.

NXT Capital priced the senior, 'AAA'-rated tranche of a $308 million CLO at Libor plus 190 basis points, the middle market lender said Thursday.

Silvermine Capital has appointed BNY Mellon Corporate Trust as trustee, collateral administrator, paying agent and calculation agent for its $450 million CLO.

The New York Federal Reserve today has started a competitive bid process in response to several strong reverse inquiries for holdings in the two Triaxx CDOs in its Maiden Lane III portfolio (ML III).