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IFR Securitisation Report

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  • | S&P downgrades all Greek AAA SF notes to AA Free 19 February, 2010

    Standard & Poor's today lowered its ratings on all AAA rated Greek securitisation tranches to AA, saying the current levels of Greek country risk are no longer commensurate with the AAA ratings.

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  • Trade receivables stage come-back - Dechert Free 18 February, 2010

    Trade receivables have re-emerged as a favoured asset class among securitisation market players, Dechert lawyers said in a report. This is due to their short maturities, traditionally straightforward deal structures and a historic ability to provide companies that have less than top-grade credit with access to the capital markets.

  • Lending terms for prime European property thaw - CBRE Free 17 February, 2010

    LONDON, Feb 17 (Reuters) Lending terms for prime European real estate improved in late 2009, the result of a rebound in prices for the property class and a positive shift in sector sentiment, data showed on Wednesday.

  • DSB deal ratings unchanged; payments on schedule Free 16 February, 2010

    Standard & Poor's said today it has decided to retain the credit ratings of seven ABS deals originated by insolvent DSB Bank.

  • Moody's reiterates CML's concerns Free 15 February, 2010

    Moody's reiterated concerns expressed by the UK Council of Mortgage Lenders that a de-facto credit tightening will follow when the current government funded SLS and CGS schemes expire.

Up Front True recovery

Participants in the European securitisation market are positive about the prospects for 2010, thanks to the strong close to 2009 in the primary market. While forecasts for primary issuance levels range from €20bn to €150bn, most players agree that €50bn seems a realistic target to aim for. Simple, plain vanilla structures are likely to be the order of the day in 2010. Expect to see low leverage, high quality collateral pools, low counterparty risk, simple structures, high quality originators and servicers and low extension risk.read more

Appointments

  • Briefs 1 February, 2010

    BarCap boosts US team - Liz Padova Hanson has joined Barclays Capital as a managing director in the asset securitisation origination business in the Americas and will lead BarCap’s coverage of credit card issuers.

    • TR On Demand


    Wed, 10 March, 2010

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