Despite the headline challenges, Lehman Brothers is making a play in the tobacco settlement legal fee-backed arena, said to be near an inaugural transaction, pending market conditions. According to a source familiar with the developments, because of the fundamental downward ratings shift for the tobacco industry, it will be difficult for a deal to score higher than the triple-B-plus level, capped at the credit perception of the industry by the rating agencies.
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On a weighted average (WA) basis, the collateral mortgages have a slightly higher leverage level than previous transactions, although moderate, with an original loan-to-value (LTV) ratio of 71.9%.
November 21 -
Private-label CMBS loan delinquencies are rising, but ample liquidity is making 2025 issuance volume the highest since 2007.
November 21 -
Federal Reserve Gov. Stephen Miran reiterated his view that monetary policy has become more restrictive than economists think, but expressed increased urgency that the central bank take strong corrective action.
November 20 -
The credit score firm partnered with Plaid to bring additional cash-flow data into its previously released UltraFICO score.
November 20 -
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The capital structure for Volkswagen Auto Loan Enhanced Trust, series 2025-2, will remain the same, even though the deal can potentially be upsized to $1 billion.
November 20




