ABS

Middle market CLOs have remained relatively scarce since the financial crisis, as it is still difficult for deal sponsors to get financing to warehouse loans to small and medium-sized companies.

Originators of private student loans can't seem to catch a break. Two years ago, the federal government stopped guaranteeing these loans, leaving them unsecured; more recently, there's been a push in Congress to make student loans dischargeable in bankruptcy. The loans are also attracting scrutiny from the recently empowered Consumer Finance Protection Bureau.

Mention cumulative charge-offs in single-digit basis points and premiums of more than 100 basis points for 'AAA'-rated bonds, and institutional investors are bound to scoff.

Dealmakers, issuers and investors in Latin American structured finance are often quick to point out that they've been spared the worst brutalities of the global financial crisis and the more recent sovereign debt anxiety in Europe, with the exception of the nonbank real estate sector in Mexico.

Following a slow beginning of the month, Standard & Poor's analysts, in a report released on May 25, stated that covered bond issuance has increased over the past few days.

Chariot Funding LLC and Jupiter Securitization Co. LLC financed a £750 million ($1 billion) consumer loan facility.

The Securities and Exchange Commission's (SEC) response to Royal Bank of Canada's (RBC) request to conduct registered public offerings of covered bonds is likely to fuel growing U.S. dollar demand, according to Fitch Ratings. For ASR's coverage on the topic, please click here.

Panelists at this week’s American Securitization Forum annual meeting fear that reform efforts around shadow banking will significantly curtail credit from non-bank intermediaries.

Standard & Poor's today released research on the role of credit ratings in the financial system.

Federal Deposit Insurance Corp. (FDIC) General Counsel Michael Krimminger will be leaving the agency later this month to join the law firm of Cleary Gottlieb Steen & Hamilton as a partner in its Washington, D.C., office.

Moody's Investors Service today commented on how it evaluates the effect of global and bank credit deterioration in Europe on structured finance securities.

Triton Container is in the market with Triton Container Finance III LLC - Series 2012-1

Nigeria’s Skye Bank has received a $150 million, five-year loan backed by remittances generated from Nigerians living abroad, according to a press release put out by the transaction’s participants.

The ABS market is seeing some deals market on the consumer ABS side, specifically in student loans and autos.

Global shipping company Hapag-Lloyd increased an existing trade receivable securitization to $150 million.

Solar securitizations have long been eyed as a financing alternative that can lower the weighted average cost of solar energy products for customers. It will also reduce exposure to developers.

Santander Consumer USA is in the market with Santander Drive Auto Receivables Trust (SDART) 2012-3.

Fitch Ratings has appointed John Miles as head of Fitch Australia effective immediately. Based in Sydney, he will be responsible for managing the rating agency's day-to-day business operations in Australia and New Zealand.