Consolidation among rights holders of music royalties will lead to less issuance but should boost deal performance as issuers will have more diversified asset pools, according to KBRA.

Ratings from a single firm are increasingly common for single-asset/single-borrower commercial MBS, a sign of potential rating shopping.

Ken Michlitsch, managing director of the alternative lending group at Morgan Stanley, said the ABS structure was designed to address the needs of both insurance clients and asset managers.

KBRA introduced a new ABS rating methodology for data centers and Fitch updated its ratings criteria for equipment lease and loan ABS.

The real estate investment and property management firm’s securitization is sized at $282.4 million.

Commercial MBS servicers are utilizing appraisal reduction amounts and nonrecoverable advance determinations more often as servicer advances increase.

The ABS backed by advances to international students studying in the U.S. could come under pressure due to any changes in immigration and employment policies.

Kroll Bond Rating Agency believes the ABS sector has a variety of tailwinds, including insurance company demand, that should boost issuance in 2025.

Some of the deficiencies highlighted across the credit rating agencies are of a critical nature.

The MBS is top-heavy in loans from California, Florida, Georgia and North Carolina...