Whenever U.S. rating agencies assess foreign asset-backed commercial paper programs, it is fair to assume that the sponsor is about to issue ABCP in the U.S.

Such hopes were raised in the ASR newsroom when Moody's Investors Service assigned Prime-1' ratings to five partially supported, multiseller ABCP programs sponsored by Scotia Capital and Royal Bank of Canada. Alas, at press time, RBC said it had no immediate intentions to issue ABCP in the U.S. market from its three newly rated conduits. Scotia Capital could not be reached for comment.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.