Other ABS


JPMorgan Hit Hardest as EU Fines Euribor Trio $521M

JPMorgan Chase, HSBC Holdings and Credit Agricole were fined a total of 485.5 million euros ($521 million) for rigging the Euribor benchmark as European Union antitrust regulators wrapped up a five-year investigation into the scandal.

Ford Credit Markets 5th Floorplan ABS for 2016

Moody’s Investors Service and Fitch Ratings have assigned preliminary ‘AAA’ ratings to the largest tranche in the transaction: a split Class A fixed- and floating rate notes series totaling $750 million making up over 76% of the pool.

GE Capital Aviation Preps $709M Aircraft Lease ABS

The transaction, Labrador Aviation Finance, will issue two tranches of notes: $603 million of series A with an initial A rating and $106 million of series B notes with an initial BBB rating. All of the notes have a final maturity of January 2042.

Renewable Funding Offers Riskier Exposure in Latest PACE Securitization

Golden Bear 2016-R, will issue a $51.0 million tranche of fixed-rate notes with a preliminary BBB rating from Kroll Bond Rating Agency; it's backed by the residual interest in three previous PACE securitizations.

Warning Signs in Structured Finance Growing Stronger

A picture of consistency for several years now, U.S. structured finance is once again set for mostly stable rating performance in 2017. That said, asset performance has peaked in many sectors with modest declines expected over the course of next year.


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Volcker Rule Extension for CLOs Comes with Big Catch

A two-year extension to the deadline for banks to conform CLO holdings to the Volcker Rule doesn't apply to all, the Federal Reserve says.

CLO Pros See No Letup in Demand

Despite regulatory hurdles, participants see nothing in the way of issuance reaching $60 billion to $70 billion this year.

Babson CEO Finke: CLOs Often Unfairly Judged

Finke says the industry needs to address the lack of understanding about its performance and role in the economy.

Cutting Solar Funding Costs

Two academics argue that aggreggating standardized assets is key to solar securitization, which can meaningfully reduce funding costs for developers.

Still No Volcker Relief for CLOs

Despite pressure from Capitol Hill, regulators are disinclined to allow banks to hold collateralized loan obligations backed by bonds.


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What’s So Unusual about Sprint’s Airwaves Securitization … and Why No One Else is Likely to Follow Suit

The wireless carrier, though only rated single-B, has more leeway from existing investors to enter into a transaction like this than even some investment-grade companies, according to Covenant Review.

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