Aire Valley restructuring prompts review

By Tom Porter
25 Sep 2014

UK Asset Resolution’s restructuring of the Aire Valley RMBS master trust has prompted a possible Moody’s upgrade for the bonds, 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 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 — ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial