ABS

Alyssa Irving sees bright production prospects for 2024 for a range of securitization assets, as the industry awaits rate cuts.

CCCRT 2024-1's pool is fragmented by obligor, with the top obligor, for instance, accounting for only 0.84% of the pool by balance.

The VPFS trust offers two AAA-rated, class A tranches to investors, which have legal final maturity dates of May 1, 2029 and May 1, 2033.

Early pricing talk for the notes ranges from 26-28 basis points over the three-month interpolated yield curve on the A1 notes, putting it at par.

Her deep industry roots and risk-based approach running a $22 billion business informed her lending and inaugural securitization issuance.

The Treasury Department is expected on Wednesday to follow through on its November guidance of a third round of increases in its so-called quarterly refunding auctions of notes and bonds.

The class A notes to price between 150-160 basis points over the three-month interpolated yield curve. The class C notes might also price within a range of 300-325 bps over the 3M I-Curve.

A substantial majority of obligors have investment-grade credit qualities and that, payments from the U.S. government account for the largest concentration, 26.75%.

Credit to the notes is bolstered by a cash reserve account, funded at closing, that equals 1.00% of the initial discounted contract balance, as well as annual excess spread amounting to 1.76%

Global financial market euphoria over the last two months of 2023 is overdone, according to members of the International Association of Credit Portfolio Managers, who expect inflation, rates to stay elevated.