After financial experts warned that the pandemic would cause the CLO market to go through its own crisis because of a wave of rating agency downgrades, new data found that this “wave” turned out to be only a small trickle.
Corporate bankruptcies are on track to reach the highest level in ten years according to new data from S&P Global. 424 companies have declared bankruptcy, as of August 9, with most of these bankruptcies occurring in the consumer, industrial, and energy markets.
In a statement issued on Monday, August 3, the Federal Financial Institutions Examination Council (FFIEC) called for banking agencies to offer more loans and provide for additional loan modifications as the first-round of these programs comes to an end.
Last Friday, July 31, Fitch Ratings announced that they would be lowering the U.S. government’s credit rating outlook from “stable” to “negative” but would be keeping the U.S.’s overall credit rating as AAA.
During this week’s Federal Open Market Committee (FOMC) meeting, the Federal Reserve (the Fed) expressed doubts that the US economy would experience a V-shaped recovery in the near future. The doubt comes as numerous states are seeing increases in COVID-19 cases with some states rolling back the progress they made on reopening.
On Tuesday, July 28, SFA and DBRS Morningstar will be hosting a webinar on the current state of the CMBS market, concerns related to COVID-19 and credit, and recent trends in the commercial real estate sector.
A provision of the CARES Act allowing borrowers impacted by the pandemic to delay payments on loans backed by the GSEs for one year could have significant consequences for credit-risk-transfer (CRT) securities according to Bloomberg.
SFA’s CEO, Michael Bright, sits down with the President of the National Community Stabilization Trust, Julia Gordon, to discuss how the COVID-19 pandemic is affecting the housing market. They discuss what communities are being impacted the most, and what policymakers can do to help.
New data from S&P Global found that global securitization issuance in the first half (H1) 2020 was $420 billion. This is down 20% from the $525 billion total during the same period from last year. Within the U.S., total issuance for H1 2020 was $201 billion, down 30% from the $670 billion last year. U.S.