ABS

The transaction structure includes a revolving period of about three years that will shut out principal payments.

A credit analyst manually reviews the pool's underwriting decisions, instead of just leaving it all to automation.

The deal's weakening credit numbers follow timeshare trend.

FICO scores and credit enhancement slip in BHG's largest deal to date

CLO and ABS issuance continues apace as spreads remain tight

Ratings are holding up but global economic prospects dim

Proceeds in part fund dividend for new private equity owner

The methodology combines existing ABS and CMBS analyses

The framework would entail lenders of a nearly $5 billion secured loan due 2027 being partially paid and unsecured creditors receiving a coupon bump in return for agreeing to extend due dates.

The assets are loans to alternative investment funds, and Capital Street includes an 18-month revolving period when new assets can be added to the transaction.