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Aside from the cash flow stabilization, another credit positive to the deal, TAH Operations is property manager to the portfolio, and has strong processes and controls.
March 27 -
A financial services veteran, Peter Akwaboah joins the government-sponsored enterprise after serving as a managing director for Morgan Stanley, where he led technology and innovation strategy.
February 23 -
HBAN will service the transaction, with an A3 rating for long-term, senior unsecured debt, an A2 long-term credit assessment, and P-1 for short-term deposits.
February 15 -
The underlying transactions pay on a pro-rata basis, but that can switch to sequential pay if performance triggers, which can be addressed, are breached.
January 25 -
In many ways the pool exhibits prime characteristics that are in line with other transactions from the MSRM platform, with an original FICO score of 772, an original loan-to-value ratio of 73.9%, and an original cumulative LTV of 74.2%.
January 25 -
Two weeks after Ted Pick rose to CEO, the company slightly revised its long-term targets for efficiency, return on tangible common equity and other metrics. Yet, Pick says, "there's not a change in strategy" after the departure of his predecessor, James Gorman.
January 16 -
A lockout feature helps extend subordination to preserve the senior notes against losses later in the transaction's cycle—notes have a final scheduled repayment date of January 2054.
January 9 -
James Gorman, chair and CEO of Morgan Stanley, expressed optimism in an interview Wednesday that the proposed Basel III endgame capital proposal would "definitely change" before it is finalized.
January 3 -
The trust distributes scheduled principal on a pro rata basis. There is also a specified lockout period during which the subordinate classes do not receive any unscheduled principal.
January 2 -
Ted Pick, a co-president and three-decade veteran of the firm, will be elevated to the top role in January and join the board, the bank said in a statement Wednesday.
October 25