IBEX Capital Markets, both an investor of asset-backed securities and an issuer of asset-backed commercial paper, recently expanded its collateralized debt obligation program by $135 million, which will push the company's purchasing power into the $600 million range.

Privately-owned IBEX buys across all sectors of ABS, said a spokesman for the company. Under current guidelines, any bonds rated double-B or higher, and with maturities 10-years or fewer, are potential targets for IBEX.

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