S&P

For the fifth time since early 2016, American Honda Finance is hedging on oversubscribed demand for its prime-loan receivables-backed notes with a potential upsizing.

Westmont Hospitality Group has secured a $360 million first mortgage and $40 million mezzanine loan from Barclays and Morgan Stanley that is secured by a portfolio of 89 Red Roof locations in 25 states.

Lease contracts from the newly acquired business account for 5% of collateral for the $305.7 million transaction; the remainder is leases on construction and transportation equipment.

The credit quality of the collateral appears to have improved, but investor protections have also decreased; as a result, Kroll is only assigning an 'A' to the senior tranche of notes.

The Irving, Tex.-based specialty lender boosted senior-note credit enhancement levels and has stabilized portfolio losses to break the AA ratings cap on its deals, according to S&P Global Ratings.

The New York-based alternative asset manager is first out of the gate with a new-issue deal amidst a flurry of early reset/refinancing activity totaling $3.4 billion.

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.

Initial expectations for cumulative net losses on the $1.15 billion transaction are higher than those of the sponsor's three prior deals, according to credit rating agency reports.

BMW Financial Services is launching its first U.S. auto-loan securitization in two years, while Daimler AG's U.S. captive finance arm is proposing a $1.3 billion to $2 billion pooling of luxury auto leases.

The lender's first deal of the year is sized at $750 million, in line with its two prior offerings, but the amount of collateral has been significantly increased, to over $1 billion.