Feature
Utilities seek new credit structures
As US utilities bail out of the auction market, they are turning to enhanced credit structures to refinance bond issues. Catherine Lacoursiere reports
The good, the bad and the ugly
Last month saw US asset manager Pimco triple its holding of mortgage debt, UBS sell subprime loan positions worth $22 billion to a new fund managed by BlackRock, and HBOS get the first residential mortgage-backed securitisation issue in nearly a year off…
Show me the money
Default Modelling
No more special treatment
Accounting
Prime suspect
Knowing the exact quality of the loans in a securitisation pool is key if investor appetite for mortgage securities is to return. Chris Ames, an asset-backed portfolio manager at Schroders, discusses what's prime, what's not, and what has to happen for…
Solid as a rock
Distressed Debt