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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The non-prime collateral pool starts out with 56,336 contracts, and an average balance of $26,041, which could be upsized to 71,695 contracts, with an average balance of $26,034.
10h ago -
Federal Reserve Governor Stephan Miran floated the idea of conducting monetary policy with an eye toward the neutral rate and suggested that the president's immigration and fiscal policies will exert downward pressure on inflation.
11h ago -
Coupons range from 4.17% on the A1 notes, rated P1/A1+ by Moody's and Fitch Ratings, respectively, to 5.38% on the class N notes, which S&P rates BB.
September 19 -
The average return on investment for flipped homes was 25.1% in the second quarter this year, the lowest point since the second quarter of 2008.
September 19 -
The U.S. Department of Justice declined prosecution after BofA Securities self-reported the violations and fixed major compliance gaps.
September 19 -
Notes are anticipated to repay in October 2032, with a final maturity date of December 2055.
September 18