DBRS Morningstar launches esoteric finance team

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By Jennifer Kang
13 Apr 2021

DBRS Morningstar launched a group dedicated to esoteric finance in an effort to expand its rating operations into other asset classes, ranging from future flow structured finance to esoteric or innovative RMBS. The news comes at a time when appetite for esoteric asset classes is growing rapidly and market participants are seeking a way forward beyond existing esoterics that lack yield.

Esoteric ABS issuance hit an all time high point in 2019, when the market saw $67.4bn deals price. Under the broad 'esoteric' umbrella are more mainstream asset classes such as marketplace loans as well as niche asset classes like oil and gas transactions. In 2020, issuance ...

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