Debt forgiveness and eurozone exit pose greatest threats to ABS
Poor economic performance across Europe will continue to have a detrimental effect on underlying assets in securitisation deals, according to panellists at Global ABS, but most transactions are structured soundly enough to protect senior noteholders from macroeconomic strain. The greater threats to collateral performance are posed by unforeseen events, such as national debt forgiveness programmes or a country leaving the euro.
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