Items Tagged with 'Municipal bond'


  • No Appetite for Securitization Leaves the US Covered

    The recent conversations I've been having around the proposed covered bond act (read HousingWire magazine for the inside scoop) are pointing to two major concerns: the legal framework and the assets involved. The legislation, of course, is meant to clear some of the hurdles to the first concern.
    Read More
  • S&P CMBS Downgrades A-Coming

    Securitization researchers are expecting widespread downgrade action in the short-term commercial-mortgage backed securities (CMBS) space after Friday's tightening of ratings requirements by Standard & Poor's. While the rating agency is not yet downgrading the 3,563 CMBS classes from 217 conduit/fusion CMBS transactions it holds on a negative rating watch, S&P is making it clear it intends resolve the status of the bonds within the next few months.
    Read More
  • MBA Comes Out Against New Rating Standards for Structured Securities

    The Mortgage Bankers Association and the Commercial Mortgage Securities Association joined with the Real Estate Roundtable and the National Association of Realtors in expressing their opposition to recent proposals that would differentiate between ratings for structured finance products and ratings for other asset classes, such as corporate and municipal bonds.
    Read More
  • Ambac Halted, Deal to Split up Monoline Rumored Imminent

    Trading in shares of troubled bond guarantor Ambac Financial were halted early Wednesday afternoon for pending news, although no official statement has been released just yet. Numerous news agencies are reporting that Ambac will announce a bailout agreement that will see the monoline split apart its municipal bond business and establish a seperate structured finance unit. From the Associated Press:
    Read More
  • MBIA, Ambac Rally on S&P Ratings Affirmation

    Beleaguered bond insurers MBIA Insurance Corp. and Ambac Assurance Corp. received some welcome good news Monday from Standard & Poor's, with the rating agency affirming ratings on the two largest monolines. MBIA saw its financial strength rating removed from credit watch and assigned a negative outlook -- meaning a downgrade was less likely; Ambac saw its 'AAA' rating affirmed, although the company remains on credit watch, S&P said.
    Read More