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ABS East: Investors “Picking over the Rocks and Seashells”

Some big investors are keeping their powder dry in the event that an exogenous event roils the financial markets; in the meantime, it’s a challenge to put money to work in assets that produce decent returns without taking on excessive risk.

ABS East: Blue Skies Still Ahead for Fintech Securitization

Unfavorable court decisions, heightened regulatory attention and a thumb’s down from famed “Big Short” personality Steven Eisman are making no dent in the enthusiasm for marketplace lending (MPL) securitization.

Navitas Plans 1st Equipment Lease Securitization of 2016

It's the sponsor's first deal to be rated by Fitch Ratings, which assigned an 'A' to the senior term tranche - five notches below the triple-As assigned by Kroll Bond Rating Agency and DBRS.

Moody’s: U.S. Spec-Grade Default Rate Rises to 5.7%

The trailing 12-month U.S. speculative-grade default rate rose slightly to 5.7% in August, representing the market’s highest default rate since June 2010, according to Moody’s Investors Service

Jefferies Completes $293.26M N.Y. Tobacco Deal Amid Healthy Demand

Jefferies said it received excellent demand for the $293.255 million of tobacco settlement pass-through bonds it priced for the New York Counties Tobacco Trust VI.

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Articles

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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Verizon Selling Bonds Backed by Cell Phone Payments

The $1.17 billion deal follows a year’s worth of management deliberations over issuing asset-backeds, which Verizon expects to lower the cost of financing device payment-plan agreements.The deal will also ease pressure on the carrier's own corporate credit ratings.

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