Esoteric

The higher rating from Kroll Bond Rating Agency came at a steep price: The senior tranche of notes to be issued benefits from 78% credit enhancement; Dividend's prior deal was rated single-A.

The latest transaction is the first to include fees associated with the Take 5 Oil Change brand acquired in 2016; they will rank pari passu with outstanding notes issued in 2015 and 2016.

Together with $26.4 million of unrated notes that the REIT will retain in order to comply with risk retention rules, the total amount outstanding from the American Tower I master trust will be nearly $1.81 billion.

The transaction is backed by 6,857 loans with a total balance of $835 million, or roughly 13% of the $6.4 billion of commercial vehicle and equipment loans in Mercedes-Benz Financial Services USA.

Triton Container Finance VI is the second marine-cargo shipping container ABS to launch this year, and will be Triton's third since June 2017.

From efforts to fix the London interbank offered rate to changes in online lenders' funding programs, here are some of the highlights of the Structured Finance Industry Group's 2018 confab in Sin City.

Verizon Wireless' sixth overall securitization of device-payment plans includes more subprime borrowers, but delinquencies remain low in its managed portfolio.

Panels account for just 15% to 20% of the total cost of residential installations, so the impact on demand is going to be relatively muted; utility-scale installations will be hit harder.

The $144 million transaction consists of two classes of notes, compared with a single tranche for the initial deal, which was redeemed early in September 2017; the sponsor can also purchase additional liens on assets in the collateral pool.

The No. 5 global shipping container lessor is marketing $250M in bonds backed by $573.2M in marine cargo ship containers. The portfolio has an unusually high concentration of dry containers.