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The notes have the same final scheduled repayment date of Oct. 22, 2035, an initial credit enhancement that ranges from 43.85% on the class A notes to 13.15% on the class E notes.

While the selloff abated on Wednesday, traders are on high alert for a resurgence in volatility — especially if U.S. non-farm payrolls data on Friday come in stronger than expected.

The Consumer Financial Protection Bureau plans to hire 75 employees in its enforcement division as it boosts investigations against "large market actors," according to an internal email obtained by American Banker.

The deal has a sequential repayment structure and collateral with 168 months of seasoning. The loans are already past their peak default periods, which each typically occur three to five years after a borrower enters repayment.

Notes will repay investors on a sequential basis, S&P said. One of S&P's rationales for assigning its ratings is the available credit support, including excess spread of 49.0%, 44.7%, 37.3% and 31.5% on classes A, B, C and D notes.

At the Most Powerful Women in Banking conference, asset management leader Jenny Johnson discussed opportunities and risks for portfolio managers in 2023.

Loan activity fell for a second consecutive week, dropping to levels last seen in 1996, as a potential government shutdown loomed.

The ratings company raised the airline's long-term rating to BBB- from BB+, according to a statement Wednesday, citing improved cash flow and robust passenger demand. IAG beat expectations with its second-quarter earnings at the end of July.

The share of residential property buyers that put themselves in the most optimistic category jumped notably in the latest edition of an RCN survey.

Should the transaction's cumulative default rate exceed 2.45% on or before Oct. 25, 2027, a lockout trigger accelerates note principal repayments from closing until May 25, 2024.