Milan’s new collections
After three years of spectacular growth, Italy’s securitisation market is showing signs of maturity. However, David Watts reports that with only a fraction of each deal being sold in Italy there are worries over whether demand can continue to match supply.
Italy’s securitisation market is maturing. But that doesn’t mean it has settled down and become boring. As Valentina Varola, a structured finance analyst at rating agency Moody’s in Milan, points out in the ‘2002 First Half Review and Second Half Outlook’: “One of the most interesting characteristics of the maturing Italian market [is] the development of two somewhat contrasting trends: a degree of standardisation on the one hand and an increase in creativity on the other.”
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