Only three months after Mexican GSE Fovissste issued its first cross-border RMBS, the lender’s deals are facing ratings trouble.
Moody’s de Mexico said it was reviewing “reporting inconsistencies” in the originator’s RMBS, for which Fovissste also acts as servicer. As a result, the agency has put these deals on review for downgrade. The program’s ratings now stand at ‘Aaa.mx(sf)’ on the national scale and ‘Baa1(sf)’ on the global, local currency scale.
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The agency cited improving used-car prices that have elevated resale values of off-lease vehicles that drivers are turning back into dealerships.
The private-equity giant has secured a $900 million single-asset commercial loan to finance its investment in three studios where Netflix and Walt Disney will produce original programming for their streaming services.
Credit Acceptance Corp.'s second securitization of 2020 has a higher loss rate than the first deal due to COVID-19 worries, as well as rising loss levels in the lender's recent-vintage securitizations.
Moody’s Investors Service has placed hundreds of non-senior U.S. CLO tranches under review for downgrade, affecting 358 broadly syndicated loan-backed portfolios as Moody’s measures the ongoing economic shocks of the coronavirus outbreak.
The $292.4 million Home Partners of America 2019-1 transaction pools 1,168 single-family home and townhome/condo properties that give tenants right-to-purchase options.
