Small U.S. Timeshare Securitization Market Shows Modest Growth, Solid Performance
June 30, 2006
The niche market in securities backed by financing for vacation timeshare units has shown stable performance trends over the last five years and modest growth in new issuance. Standard & Poor’s this week issued its first quarterly report on the market, the Timeshare Securitization Performance Index, which aims to capture the historical performance of S&P-rated timeshare term issuance; activity in the most recent quarter; key performance metrics on the underlying loans; and rating actions…