Issuance of marketplace lending ABS is expected to increase slightly, led by optimism in the economy and improved underwriting criteria, according to rating services.

Issuance could increase by about 2%, helped by strong demand from investors for vehicle ABS. Loan performance, however, is expected to slip, according to industry analysts.

For the third straight year, in 2018, marketplace lenders held the top spot in the unsecured personal lending space. Meanwhile the share of banks dropped to 28%.

A whole business securitization from TGI Friday’s was downgraded by Kroll Bond Rating Agency. Meanwhile, two such deals hit the market.

Pagaya has issued a $115 million consumer loan ABS backed by market-place consumer loans and managed solely by artificial intelligence.

The largest for-profit performing rights organization is set to issue a whole business ABS. SESAC’s clients include Bob Dylan and Adele.

Issuance of whole-business ABS is on track to break a record this year, with $4.6 billion in volume at halfway mark. Issuers include fast food companies, aftermarket car services and spa services.

A new private activity bond will fund construction of tolled express lanes near Washington, DC. Toll revenues on similar bonds have been strong and rating services affirmed BBB ratings on outstanding issuance.

Securitization of single-family rental mortgages has slowed, with of the largest issuers of the product recently tapping outside funding.