The property assessed clean energy ABS issued by Renovate America are “largely insulated” from the company’s financial troubles given its limited involvement in the deals post-issuance, according to KBRA.

The vendor uses machine learning and artificial intelligence technology to select and purchase consumer loans from originators.

Fitch has downgraded 37% of the airline ABS it rates. Kroll and S&P also recently conducted sweeping downgrades. The rating services said air travel isn’t expected to recover until 2023 at the earliest.

Despite plunging volume in rated MBS and ABS during the second quarter, some ratings services managed to increase market share. (Includes two data charts.)

ABS tied to Bojangles, powersports equipment and airline mileage programs recently hit the market. Meanwhile, a whole-business ABS from Planet Fitness was downgraded.

The rating service its stepping away from rating new commercial MBS backed by single-borrower hotel loans due to uncertainty prompted by the coronavirus. Only one such deal has been issued since April.

The underlying pool includes prime unsecured consumer loans from Lend-ingClub that were selected using machine learning.

Loans backing securitized products are holding up fairly well even though the use of forbearance has increased. A combination of investor protections and changes in underwriting practices is helping.

Rating services are requiring higher credit enhancement levels and taking negative actions on outstanding deals due to problems stemming from the coronavirus. Fitch finalized new criteria for residential MBS late last week.

An advisory panel has called for greater transparency around credit ratings. SEC officials say the reforms could be difficult to implement.