ABS

Wesco Distribution, a wholly-owned operating subsidiary of Wesco International, has amended its accounts receivable securitization facility.

Wyndham Worldwide Corp. is in the market with Sierra Timeshare 2011-2 Receivables Funding (Sierra Timeshare 2011-2) offering worth $250 million.

CHC Helicopter Corp. has increased an existing trade receivable securitization to $75 billion from $55 billion.

Lewtan appointed Salil Donde as chief executive officer. Donde joins Lewtan from Marshall & Swift/Boeckh, a provider of essential property information solutions.

Several units of Mexican cement maker Cemex recently closed a 4.2-year, Ps2.5 billion ($204 million) facility backed by their trade receivables, according to a release by Finacity Corp., which arranged the deal. Ixe Casa de Bolsa was the sole underwriter. Both HR Ratings and Standard & Poor's rated the deal triple-A on their respective national scales.

Moody's Investors Service has withdrawn its preliminary ratings on Domino's Pizza whole business securitization called Domino’s Pizza Master Issuer LLC Series 2011-1.

A gauge of CMBS tenant risk in the U.S. has scarcely been nicked by the U.S. downgrade, according to Standard & Poor's.

Insurance-linked securitizations (ILS) are holding up even in the aftermath of the major natural disasters that hit during early 2011, said Standard & Poor’s in a release.

Following its historic downgrade of the U.S., Standard and Poor’s has predictably cut the rating of Fannie Mae and Freddie Mac to ‘AA+’ from ‘AAA.’ At the same time, the agency affirmed the short-term ‘A-1+’ rating on these government-related entities, while removing them from CreditWatch Negative, where they have been since July 15.

Global financial firms are in danger of drowning in the ocean of uncertainty that floats between the rhetoric of the G-20 and the reality of international regulation.

A recent federal appeals court decision is likely to cause the delay of dozens of pending Dodd-Frank Act regulations.

A scholarship fund in Bingham McCutchen partner Edward Gainor’s memory has been established by the law firm at his alma mater The George Washington University (GWU) Law School. Gainor died July 22 of a heart attack.

A Brazilian regulation that goes into effect today ratchets up the default probability of mezzanine tranches in domestic ABS, said Moody’s Investors Service in a release.

BNP Paribas hired Christian Wulf as director in charge of Latin America for the firm's aviation finance group.

The debt ceiling compromise will bring some temporary relief to the securitization market, although the benefits will likely be short-lived.

At the recent American Securitization Forum (ASF) Sunset Seminar, panelists looked back at the first year of Dodd-Frank, saying regulators are still missing the bigger picture.

Europe's reenactment of last summer's sovereign debt crisis heated up as talks of a Greek debt default intensified once again this July.

Greek bailout talks intensified once again this July, a repeat in many ways of last summer's discussions. But structured finance issuance is taking it much harder this year, as Nora Colomer examines in the cover story. In July two actively marketed European securitizations were abruptly pulled when the market got too volatile. Other issuers went the retained route rather than face the risks associated with bringing new-issue deals to market.

Most market participants believed that Congress was going to raise the debt ceiling before the Aug. 2 deadline. However, it was largely expected that the U.S. long-term debt rating was going to be downgraded from its 'AAA' status by at least one of the two big rating agencies.

Bank regulators expressed frustration July 27 over a little-noticed and initially uncontroversial provision of Dodd-Frank that forces them to eliminate references to credit ratings in most bank regulations.