Despite the regulation-induced slowdown in Brazil, Fitch Ratings expects structured finance in Latin America to remain steady in both issuance and the credit environment.
Greater use of credit bureaus by Russian originators is a credit positive for securitizations in that country.
The catalysts were changes in the models used by Fitch, adverse selection in older mortgage pools, and the sovereign crisis in Europe.
There's trouble ahead for securitizations in certain countries, especially those with weaker credit strength, and, by extension, higher risk of deep crisis.
Five new originators of Russian RMBS debuted last year; players say the issuer stable will keep growing.
Securitization pros have had to constantly come up with new deal structures to respond to challenges posed by the ongoing financial crisis. Nowhere is this more obvious than in CMBS.
U.S. structured finance players are exploring new frontiers.
Dodd-Frank Act's call for the creation a self-regulatory organization to assign new ratings was mostly panned by structured-finance industry participants.
The banking craze in Mexico for state and municipal debt may be dying down, and signs point to a revival in market issuance.
In light of the bank's covered bond issue, ASR had a chat with Zeki Onder, executive vice president of Sekerbank.