ABS

The newer planes are being delivered to financially strong carriers such as JetBlue Airways, Delta Air Lines and India’s popular IndiGo low-cost airline.

The deal is the second securitized transaction floated under recent California state legislation authorizing a flurry of utility securitizations.

Deals, trends and research in structured finance and asset-backed securities for the week of May 14-20

Trinity’s railcar collateral qualifies as an eligible green asset, since freight transportation serves as a lower carbon-emissions alternative to big-rig trucking for land-based goods transport.

Taking each element of ESG - environment, social, governance - a dv01 principal says the firm is gathering the comprehensive list of authoritative sources and entities needed to build an ESG definition.

Avant Loans Funding Trust 2021-REV1 is a $200 million note offering backed by loans underwritten through its Avant platform. The $500 million OneMain Financial Issuance Trust 2021-1 is the first deal of the year for OneMain, which has previously issued 23 consumer loan securitizations and five auto-loan ABS deals.

The initial $1.31 billion pool may be potentially upsized to $1.53 billion.

This week, Moody’s Investors Service projected elevated credit-loss expectations for a new subprime auto-loan securitization from Veros Credit, even though the new deal has several improved credit metrics compared to the company’s prior ABS offering in March 2020.

Verizon Master Trust, Series 2021-1 is the first series from the new platform which will periodically issue notes that – similar to bank credit-card ABS structures –will be designated to specific groups of accounts.

Deals, trends and research in structured finance and asset-backed securities for the week of May 7-13

The bonds backed by the primarily non-prime unsecured receivables have preliminary ratings of BBB (low) from DBRS Morningstar and BBB- from Kroll Bond Rating Agency.

The rental-car firm's next securitization of its rental car fleet is just the second since the COVID-19 outbreak in early 2020, and is buoyed by pent-up business and tourist travel demand for vehicle-rental services.

Deals, trends and research in structured finance and asset-backed securities for the week of April 30-May 6

Goeasy would join the likes of Canadian non-prime lender Fairstone Financial Inc., which sold its inaugural ABS transaction in 2019. Also that year, Home Capital Group Inc. priced the first deal pooling non-prime Canadian home loans since 2007.

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.