The key vehicle ABS sector took a big hit in the fourth quarter but still accounted for over 40% of total ABS issuance last year. Analysts say market fundamentals are moving in the right direction. (Includes two data charts.)
Governance and social risks are the main ESG factors that affect credit ratings of MBS and ABS, while environmental relevance remains low, according to Fitch Ratings.
The FHFA will significantly reduce a controversial fee for comingled securities in UMBS; no consistent trend in delinquencies and losses across MBS and ABS in December; term SOFR not an option as GSEs leave LIBOR behind.
As purse strings tighten, the quick-service restaurant space is expected to do well given the value and convenience it offers customers. But the same cannot be said for the casual-dining sector, S&P analysts say.
Final regulations implementing the Adjustable Interest Rate Act will go into effect next month, setting the stage for a smooth transition for the end of the London Inter-bank Offer Rate.
Fitch Ratings said the most robust subprime auto ABS issuers will probably perform well even in a downturn, but several risks lie ahead for the sector.
Distributed Solar Development plans to issue its first securitization, which is backed by commercial and industrial photovoltaic systems and related customer agreements.
The Securities and Exchange Commission has delayed implementation of a disclosure rule the industry feared would compromise the ability of many issuers to access the 144A market.
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