ABS

The transaction features two potential securitizations of collateral pools valued at approximately $1.11 billion and $1.32 billion, with bonds totaling $1.01 billion and $1.20 billion.

As of the May 31, 2022 cut-off date, 95.6% of the loans were current, of which 2.1% are bankruptcy-performing loans and 4.4%, 30 days delinquent.

Questions remain around switching benchmarks that could result in unexpected refinancings

Compared to the baseline macroeconomic scenarios updated in March, near-term growth outlooks have deteriorated across most DBRS Morningstar-rated sovereigns worldwide.

Loan forgiveness would help offset FFELP student loan ABS low prepayment rates and maturity risk, a primary driver of rating downgrades since 2016.

About 79% of the loans in the collateral pool were made to borrowers without full documentation, while 34% of the loans in the pool were underwritten to bank statements.

As banks get pummeled by risk aversion and sinking asset values, direct lenders are lavishing risky companies and private-equity firms with capital at rates below what’s available in the high yield and syndicated loan market.

SESAC Finance, Series 2022-1, will add collateral related to collections from Audio Network, a production music company that SESAC bought in July 2021.

Given the significant amounts of energy needed for lighting and climate control, data centers involve more environmental risks than other property types.

The move by the club of rich nations on the concluding day of their three-day summit in the Bavarian Alps comes as part of a broader push to choke off the profits Russia makes from energy exports.

Macchia and Rowan’s hires continue Mitsubishi UFJ Financial Group’s strong expansion in debt capital markets, ABS and leveraged finance since January.

The securitization portfolio consists of originations exceeding risk-based portfolio concentration limits for Channel Partners Capital’s partner firms.

KopenTech’s KTX DirectBidding will likely compete with Octaura Holdings, an upcoming electronic trading platform for syndicated loans and CLOs.

Upstart does not maintain exposure to loans’ credit risk to the same extent as other ABS, making underperformance more likely to negatively influence confidence.

The mall’s value sank some 80% to just $147 million in an appraisal last year. Destiny was slammed by the usual suspects that have hurt malls broadly.

Observers did not raise alarms about SLABS’ immediate or near-term performance, but the notes’ underlying loans are expected to stay resilient.

Bond investors may already be pricing in the peak of the US rate cycle as concerns about a downturn mount, according to Steven Major, global head of fixed income research at HSBC.

As Revlon files Ch. 11, powered by a proposed $575 million debtor-in-possession facility, experts raise flags on the potential erosion of its outstanding CLOs.

(Bloomberg Opinion) -- If you’re still holding out hope that the Federal Reserve will be able to engineer a soft landing in the US economy, abandon it. A recession is inevitable within the next 12 to 18 months.

Nissan Auto Lease Trust, 2022-A’s base residual value—as a percentage of securitization value—had increased to 72.3%, up from 71.6% on the previous deal.