Aire Valley restructure prompts upgrade review

By Owen Sanderson
23 Sep 2014

UK Asset Resolution’s restructuring of the Aire Valley RMBS master trust has prompted a possible upgrade for the bonds from Moody’s, since it will strip out poor quality loans making up around 50% of the pool.

Aire Valley was Bradford & Bingley’s securitization funding vehicle, and has become a widely traded and more liquid instrument in European securitization since it breached its non-asset trigger in 2012. This means that all equivalent classes across all the deals from the master trust receive the same cashflows ...

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