Weekly Issue Archive »

Issue 436 - 8th May

  • News Analysis

    • CMBS

      • Idiosyncratic risk?

        US CMBS 2.0/3.0 loan troubles scrutinised

        The US$96.4m Ty Warner Hotels & Resorts Portfolio loan, securitised in MSC 2012-C4, has become the latest high-profile CMBS 2.0/3.0 loan to face difficulties (SCI 6 May). Such instances are being portrayed as idiosyncratic in nature (SCI 27 A...

  • SCIWire

    • Secondary markets

      • Euro liquidity hampered

        Broader market volatility combined with a holiday shortened week continues to hamper liquidity acros...

      • US CLO activity drops

        Activity in the US CLO secondary market has dropped again this week and looks set to stay that way f...

      • Euro secondary mixed

        European secondary securitisation markets are seeing a mixed tone amid continuing low volumes. Vol...

      • US RMBS keeps going

        Despite broader market concerns combined with liquidity challenges the US non-agency RMBS s...

      • Euro ABS/MBS stays stable

        In the face of heightened broader credit market volatility yesterday the European ABS/MBS secondary...

  • News

    • ABS

      • DOT rule to dent railcar ABS?

        The US Department of Transportation last week issued its final rule for tank car safety improvements. The more stringent standards are generally seen as negative for railcar ABS, given that retrofitting costs are paid from securitisation cashflows at...

    • CMBS

      • Sharp rise in CMBS early prepays

        While US CMBS 2.0 loans have increasingly paid off with yield maintenance or been defeased, the pace has picked up even more since the second half of 2014. This is particularly noticeable for five-year loans, despite the upfront penalty involved. T...

      • German CMBS value examined

        Price rallies for Gagfah's three outstanding multifamily CMBS ended in March as both Gagfah and Deutsche Annington, with which it is merging, had their earnings calls. Those calls caused a re-evaluation of the assumption that the CMBS would prepay qu...

  • Job Swaps

    • ABS
    • Structured Finance

      • Director duo hired

        THL Credit Advisors has hired Thomas Lane as md and Brett Hinton as director. Lane will focus on lea...

      • Bank executive promoted

        Kurt Niemeyer has been appointed national structured credit executive for Merrill Lynch. He was orig...

      • HC2 launches counter bid

        HC2 Holdings has sent a letter to MCG Capital proposing that the two companies immediately engage in...

      • REIT brings in quartet

        Annaly Capital Management has beefed up its agency MBS investment team and corporate infrastructure...

    • CDO

      • CDO manager set to change

        Reservoir Funding plans to remove its incumbent collateral manager, Cutwater Asset Management, at th...

    • CLOs

      • Key persons replaced

        Blackstone/GSO Debt Funds Europe has confirmed a couple of key-person replacements with respect to H...

    • Insurance-linked securities

  • News Round-up

    • Structured Finance

      • ECAI consultation underway

        The EBA has launched a consultation regarding draft implementing technical standards (ITS) on the ma...

      • Greek notes downgraded

        Moody's has downgraded 18 notes and affirmed one note in eight Greek structured finance transactions...

    • CLOs

      • CLOs post positive returns

        The total amount of CLOs paid down in JPMorgan's CLO index (CLOIE) since the March rebalance through...

      • SME CLO approach confirmed

        Scope has finalised its methodology for rating SME CLOs. The agency's original proposals have not be...

      • Ty Warner loan eyed

        The US$96.4m Ty Warner Hotels & Resorts Portfolio, securitised in MSC 2012-C4, has become th...

    • NPLs

      • NPL pools up for bid

        The US Department of Housing and Urban Development has announced its first NPL sale under the Distre...


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