ABS

Initial hard credit enhancement ranges from 24.40% on class A notes to 7.70% on the class D notes. At closing, overcollateralization will be 6.70%, building to a target of 12.50%.

Deliveries would get an added boost should China resume importing the 737 Max after a nearly five-year halt, as air travel rebounds and trade relations thaw with the US.

Originators funded 72.6% of the loans in 2023, while 16.7% of the loans were funded in 2022 and originators funded the rest between 2021 and 2018.

ABS for 2023 is expected to drop 21.2% from 2022 volume, but the industry total for 2024, could give it a 4.1% increase.

Some 54 contracts and 39 obligors, with an average contract balance of about $14.46 million, and the average exposure to an obligor is about $22.79 million.

Any capital injection from GIC would follow an effort by Apollo to raise capital that enables Atlas SP's balance sheet to grow to more than $50 billion from about $40 billion in February.

While the Fed chief said officials are ready to hike further if needed, he also noted policy is "well into restrictive territory." Two-year yields sank 13 basis points to 4.55%.

But Mary Daly, president of the San Francisco bank, said it's premature to declare victory against inflation and that the central bank isn't contemplating rate cuts at all right now.

The decision narrows scope of impacted transactions and participants, to the market's relief.

The collateral pool had an average account balance of $1,620, lower than that of credit card securitization trusts that the Big Six banks sponsor, and the ABS notes benefit a 26% subordination level.