ABS

Moody's Investors Service and Fitch Ratings assigned provisional ratings of ‘P-1’/ ‘F-1’ to Wells Fargo’s $100 million term ABS, Series 2013-MM1 deal that is backed by collateralized servicer advance receivables.

View the year-to-date manager rankings through Feb. 22 for the different ABS sectors, including real estate, credit cards and autos.

The European Covered Bond Council’s labeling initiative needs a broader market take-up in order to meaningfully impact volumes, said analysts at Standard &Poor’s.

Strong payment structures and high credit enhancement levels will mitigate the impact of less conservative underwriting on subprime auto loan securitizations.

Spreads in the primary market have tightened so much that equity holders are calling collateralized loan obligations issued as recently as 2011 in order to fund new deals more cheaply.

Lease securitization has the potential to plug a yawning financing gap for non-U.S. airlines.

Lease securitization has the potential to plug a yawning financing gap for non-U.S. airlines.

Utility tariff bonds continue to price wide of other off the run ABS asset classes despite offering investors strong credit and strong fundamentals, according to Wells Fargo Securities.

The European Central Bank recently tightened the eligibility criteria for using covered bonds as collateral for funding. This could hurt covered bond programs

CNH Capital America LLC priced its upsized, $1.25 billion, equipment lease ABS deal, CNH Equipment Trust 2013-A to good investor appetite.

TAL International Group plans to issue a $271.75 million container lease ABS deal, kicking off what is expected to be a busy year for the esoteric asset class.

The South Carolina Student Loan Corporation has a $324 million deal in the works, according to a pre-sale from Fitch Ratings.

CLOs that are tracked in an index compiled by Standard & Poor’s show that fewer ‘CCC’-rated loans in their pools translate into better performance for transactions.

Direct Capital Corporation said it completed its first securitization of equipment lease backed notes, a $16O million deal called Direct Capital Funding IV LLC 2013-1.

Kroll Bond Ratings said it expects the first rated securitization of commercial property assessed clean energy (PACE) loans in 2013.

IPFS Financing Corp. plans to issue a $400 million securitization that is backed by insurance premium finance loans.

The consumer ABS market got off to a strong start in January, with the auto sector once again leading the way; issuance was up on the year, and spreads narrowed, led by subordinated bonds.

Aetna priced its $150 million health insurance-linked securitization, Vitality Re IV Ltd. (Series 2013-1).

View the year-to-date manager rankings for the different ABS sectors, including real estate, credit cards and autos.