Moody's

The first prime auto-loan securitizations for Ally Bank and captive-finance lenders for Toyota and Ford total $3.5-$4B, according to rating agency presale reports.

Improved underwriting allowed the lender to secure AAA ratings despite offering the lowest credit enhancement on senior SDART notes in three years.

Obvion, a €31.1B-asset lender with a 3.2% market share in the Netherlands, is placing more seasoned loans into its latest five-year revolving pool of prime loans.

AXA Investment Advisors' two primary-issue CLOs in 2017 were each priced within the past month.

Only 2.6% of speculative-grade rated firms with public financials carry Moody's weakest liquidity rating, a drastic reduction since March 2016, helped by a recovery in the oil and gas sector.

Junk-rated firms pay little tax, and so won't benefit much from a lower corporate rate. And this benefit could be offset by a limit on the interest deduction.

In its third securitization of cash-out auto loans, OneMain will for the first time include originations from the 1,000 legacy offices acquired from CitiFinancial.

CHT 2017-CSMO will issue six classes of notes in the $1.38 billion transaction, which will refinance a 2016 mortgage securitization and provide funds for renovation.

The bonds, which are backed by royalty payments and franchise fees, are expected to close in January; proceeds will be used in part to refinance a 2015 transaction.

Carlyle Euro CLO 2017-3 is the latest under its new shelf managed by affiliate CELF Advisors, with a AAA coupon of just 75 basis points over three-month Euribor.

Fino 1 is backed by collections on more than €5.34 billion in bad loans originated by the Italian banking giant. Most were issued between 2010-2017.

The deal could put downward pressure on market lease rates and renewals in wireless tower ABS portfolios serviced by Crown Castle, American Tower, and SBA Communications.

The two prospective pools of loans have nearly identical average FICO scores (769 for the $1 billion pool, 770 for the $1.25 billion) and weight average APR (2.13% and 2.11%, respectively).

Juniper Receiveables DAC, a new offshore shelf for Ally U.S. auto-loan receivables, has received an early 'Baa3' rating from Moody's Investors Service on its initial $530 million issuance.

Nearly one-third of the vehicles in CIG Financial's $172 million transaction have mileage above 100,000; the highest-mileage car financed has 197,387.

That's only half as large as the lender's four previous deals, which ranged from $1.02 billion and $1.12 billion; company executives recently touted a shift toward more financing from deposits.

For the first time in five years, MassMutual has a second securitization within a calendar year backed by loans and leases to large corporates, including federal government agencies.

CarMax, BMW, Santander and Credit Acceptance Corp. all launched deals Thursday; they add to the $35 billion in prime auto, $12.31 billion in prime lease, and $19.4 billion in subprime auto loan ABS so far this year.

Issuing bonds backed by credit-card receivables was formerly a bi-annual occurance for First National Bank of Omaha. This year, FNBO has served up a pair of transactions of its direct-issue and co-branded cards.

Over 80% of the cars are diesel-engine vehicles, bringing potential volatility to the portfolio cash flows given the public debate over potential panning such cars in several European urban centers.