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Canadian Structured Finance Market Reaches Record Levels In 1998 Feb 99
Standard & Poors, Feb 1999
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
Abstract
Toronto (1) 416-202-6009 The dramatic surge in securitized Canadian issuance that started in the fall of 1996 continued through 1998, albeit at a slower rate. Canada's major banks and financial institutions were again at the forefront of issuers and again led the growth of the market. There is every indication that the banks will continue to look to securitization as a form of funding and that the recent growth represents a systemic change to the Canadian market. However, despite the overall size of the market, there remains signals of market immaturity, and continuing development of the investor base is required to give the market the depth it needs to fully develop. Many of the assets recently securitized in Canada have...
Companies mentioned in this report are: Canada,Royal Bank of Canada,Toronto-Dominion Bank (The),Bank of Montreal,Bank of Nova Scotia (The),Canadian Imperial Bank of Commerce,National Bank of Canada,Manufacturers Life Insurance Co. (The),Canada Mortgage and Housing Corporation,Canada Trust Co. (The),Canadian Credit Card Trust,Gloucester Credit Card Trust
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