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Compared with other tax lien transactions, PVOne 2023-1 has a much smaller initial redemption value, and has one of the lowest numbers of liens, at 9,681. Its weighted average loan-to-value (LTV) ratio is 8.8%.
July 25
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Conning and its affiliates will retain autonomy, while using the Generali connections to extend its reach into global markets.
July 7 -
Credit enhancement is lower for all classes relative to the Sierra Timeshare 2023-1, except for class C, and that was because of lower overcollateralization and lower subordination.
July 6
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Commercial and industrial customers comprised about 60% of SIGECO's electric sales, which potentially exposes the pool to volatility due to business changeable cycles.
June 29
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The deal has several performance triggers with cash trap reserves, senior note interest and expense reserves, and loan-to-value tests.
June 27
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A 1.16% rate of excess spread, subordination of the class B notes and a liquidity reserve provide credit enhancement to a deal financing far more PACE loans extended in Florida.
June 7
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A true-up mechanism is uncapped and will mandatorily adjust the charges at least semi-annually to ensure that the trust has adequate funds to make timely principal and interest on the bonds.
June 6
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The specialist says the key to selecting less-trafficked ABS sectors is their ability to withstand an expected recession.
May 22
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Prime homeowners as borrowers and strong recovery rates help drive confidence in the issuance, but the first-time appearance of deferred loans raises caution.
May 19
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The collateral in FortiFi 2021-1 and 2023-1 are similar, In one key difference from Fortifi 2021-1, the current deal has a supplemental reserve account, amounting to $6.2 million.
May 17
