ABS

Defaults and delinquencies are below pre-pandemic levels for online consumer loans held in securitization pools, but Fitch is concerned normalization may be shortlived as expanded unemployment benefits and other stimulus support programs draw to a close.

The deal is CIBC's third series from the CARDS II master trust, and the second to issue U.S.-dollar denominated bonds.

Wisconsin Electric Power Co. will assign receivables from EC costs levied on monthly customer bill payments. The securitization strategy is expected to save ratepayers $41 million over traditional rate-based financing.

Deals, trends and research in structured finance and asset-backed securities for the week of April 23-29

The operator of 10 home-services brands is refinancing existing company debt with the securitization, according to KBRA.

But the rate for those loan-payment deferrals remains elevated over pre-pandemic levels.

In his annual letter to CEOs in January, he stressed the need for companies to respond to racial injustice, economic inequality and environmental degradation -- all issues traditionally left to government.

The subprime consumer lender will also collateralize loans from its newly launched secured-loan platform in its second securitization of 2021.

Demand is booming this year for securitized debt, as sales have not only recovered following last year’s Covid-induced dip, but are even eclipsing the pace of previous strong years.

The powersport equipment financing company is hoping to see its first profitable year in 2021.