Consel SpA an Italian consumer credit company plans to issue Monviso 2013, a €348 million ($454M) securitization deal backed by Italian consumer and personal loans, according to a Standard & Poor’s presale report.
Obvion announced plans to issue a €744.7 million ($969.10 million) Dutch RMBS, Storm 2013-II— its 2nd transaction of 2013.
By tweaking one aspect of its methodology for rating securitizations, Moody’s Investors Service has set the stage for more downgrades of deals issued out of peripheral Eurozone countries.
By tweaking one aspect of its methodology for rating securitizations, Moody’s Investors Service has set the stage for more downgrades of deals issued out of peripheral Eurozone countries.
U.K. prime RMBS investors may see loss severities decrease in U.K. RMBS deals as house prices stabilize on the back of a new housing initiative announced yesterday, according to a Barclays report.
Kroll Bond Rating Agency said it’s been green-lighted by the European Securities and Markets Authority (ESMA) to operate in the European Union.
The catalysts were changes in the models used by Fitch, adverse selection in older mortgage pools, and the sovereign crisis in Europe.
Moody’s Investors Service today placed 60 tranches of securitizations on review for downgrade in the economically beleaguered countries of Spain, Italy and Ireland.
Tighter spreads on Spanish covered bonds has not appreciably mitigated the risk of holding this paper,
Analysts at Bank of America Merrill Lynch have a beef with new rules from the Basel Committee on Banking Supervision (BCBS) that spell out how much regulatory capital needs to be set aside for securitizations.
The lack of U.K. RMBS is pushing down overall European securitization issuance and could drive investors to look for product outside of this usual comfort zone.
The European Covered Bond Council’s labeling initiative needs a broader market take-up in order to meaningfully impact volumes, said analysts at Standard &Poor’s.
European CMBS had a bad start to 2013 with January recording the highest number of loan maturities in a single month, according to Standard & Poor’s.
Lease securitization has the potential to plug a yawning financing gap for non-U.S. airlines.
Five new originators of Russian RMBS debuted last year; players say the issuer stable will keep growing.
Lease securitization has the potential to plug a yawning financing gap for non-U.S. airlines.
The securitization investor class of 2013 is likely to be the most geographically diverse group since before the onset of the financial crisis.
Investors no longer feel limited to their own country for securitization investment opportunities; they are becoming comfortable with the risks and rewards of investing in and owning a global book.
The Basel Committee’s decision to allow banks to include highly rated residential mortgage bonds into the calculation of a new liquidity coverage ratio is good news, at least for European banks.
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