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S&P views the transaction's exposure to environmental credit factors as above average, given that the collateral pool primarily comprises vehicles with ICEs.
February 14
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The deal has a $10 million prefunding account that could purchase additional eligible receivables during a three-month period after closing.
February 14
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Similar to recent transactions, the collateral pool includes loans with an original term greater than 72 months, which Ford adjusted for in the underwriting.
February 13
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Lenders and borrowers have just a few months to negotiate how they're going to ditch the disgraced Libor benchmark in the leveraged loan market, and time is of the essence.
February 13
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LBZZ 2023-1 has a reduced recovery rate assumption on the current transaction at 50%, given deteriorating recovery trends and lower used vehicle values.
February 10
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Martin Silver, 65, pleaded guilty in April, admitting that he conspired to defraud investors by overvaluing distressed loans and creating bogus documents and fake loans to hide losses.
February 10
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The pro-rata/sequential hybrid structure provides some credit enhancement along with cumulative loss and delinquency trigger events and excess spread.
February 10
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Fitch and Moody's might have differing outlooks on the notes' CNL outlook, but they agree that HDMOT 2023-A's collateral pool is marginally stronger.
February 9
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Healthcare companies used to be some of the safest to lend to during economic downturns, until private equity firms bought them out and larded them with debt.
February 9
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The regulator's proposal adds to measures already in place—net short positions—but critics worry that overzealous application could dampen the market.
February 8
