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More recent OMFIT securitizations have experienced increasing 30+ delinquencies as well as annualized net loss rates.

The pact binds them to act together in negotiations with the company, a move meant to prevent the kind of nasty creditor fights that have complicated other debt restructurings in recent years.

The notes also face a credit challenge because there is no mandatory repurchase of modified loans.

Deterioration in credit quality should put strain on collateral originated in late 2021 and early 2022, affecting performance, Barclays Credit Research said.

Bank of America is slowing hiring as fewer employees leave in an attempt to manage the company's headcount ahead of a possible U.S. recession, Chief Executive Brian Moynihan said.

Proceeds from the sale of the bonds will be used to replenish and fund Entergy New Orleans' storm recovery reserves that had been depleted after Hurricane's Zeta and Ida.

Investors brace for more FTX-like blowouts in the private equity industry and expect a good year for investment grade credit, survey shows.

The deal also differs from other bank-sponsored, CLN transactions in that the rating agency will not limit the ratings to SBNA's long-term counterparty risk rating.

Roughly 40,000 residents of Moore County have been left without power since Saturday, when gunfire damaged two substations. Financial institutions are urging residents to use online banking and call centers if they do not have access to a branch.

Home prices dropped again on a monthly basis in October, exacerbating the loss in home equity among recent buyers, but the size of the falloff was the smallest since June.