Securitization - European Archive

  • Lack of CLO ratings transparency damages credibility

    Lack of CLO ratings transparency damages credibility

    Rating agency reviews of CLOs are not resulting in mass downgrades in Europe. That has caused some to question what is going on given the damage the coronavirus pandemic and lockdowns must surely have had on certain sectors of the economy that some CLOs are exposed to. Some transparency around ratings metrics would help soothe the angst.

  • European CLOs weathering downgrade risk

    European CLOs weathering downgrade risk

    Rating agency reviews of CLO tranches which began in April are coming to an end, with the majority keeping their scores in early signals that the sector may avoid a mass of downgrades.

  • Amigo holds on to RBC securitization facility as deadline nears

    Amigo holds on to RBC securitization facility as deadline nears

    Amigo Holdings, a UK guarantor loan provider, has won a waiver for its £300m securitization facility with the Royal Bank of Canada (RBC), giving it until August 14 to come to an agreement on terms while the company fends off an Financial Conduct Authority probe and a public spat between the board and the company's founder.

  • People moves in brief

    People moves in brief

    Palmer gets interim ECM head gig at BofA — Clarke to join JP Morgan for FIG — Paz-Galindo promoted at UBS

  • NPL platform deal cements doValue foothold in Greece

    NPL platform deal cements doValue foothold in Greece

    Italian debt servicing specialist doValue is refinancing its acquisition of a Eurobank debt platform to position itself as a dominant NPL servicer in Europe, ready for the next generation of defaulted loans.

  • Mortgage holidays fail to deter UK RMBS buyers

    Mortgage holidays fail to deter UK RMBS buyers

    The level of Covid-19 payment holidays affecting specialist UK lenders in the UK and fears over the future of the country's economy have failed to dampen demand for their debt among UK RMBS buyers, with the lack of public issuance boosting interest in publicly placed deals.

  • European CLO primary set for slowdown, says Investcorp

    European CLO primary set for slowdown, says Investcorp

    The European CLO summer slowdown is set to persist into autumn as pre-Covid warehouses run dry, and CLO 3.0 structures take time to mature, according to Investcorp, which has closed two euro CLOs in 2020 to bring its total European CLO assets under management to more than €7bn.

  • Commission begins legislating NPL, synthetic STS

    Commission begins legislating NPL, synthetic STS

    The European Commission has included measures to improve the regulatory framework for non-performing loan securitizations in its latest coronavirus response package, while also beginning the classification of synthetic securitizations to qualify for the ‘simple, transparent and standardised’ (STS) designation.

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