CAN Capital online loan ABS hit with downgrades

The subordinate notes from online small business lender CAN Capital’s sole securitization, which was priced in 2014, were downgraded on Tuesday by DBRS amid fears over its ability to absorb expected losses.

  • By Sasha Padbidri
  • 09 Aug 2017
On Tuesday DBRS announced that the $20m ‘B’ notes of the $191m deal were deemed insufficient to absorb expected losses at the initial B (high) rating level and were downgraded to CC. The analysts added that the notes do not benefit from overcollateralization, while the amount of newly ...

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