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Asset-Backed Commercial Paper Market Attains New Heights In 4Q98 Mar 99
Standard & Poors, March 1999
Abstract
The asset-backed commercial paper market continued to grow in the last quarter of 1998. The average commercial paper outstanding for partially enhanced programs in the fourth quarter of 1998 increased to $309.8 billion from $285.7 billion at the end of the third quarter of 1998. The aggregate commercial paper outstanding as of December 1997 was $213.6 billion, while the December 1998 aggregate commercial paper outstanding was $330.3 billion, reflecting a 55% year-to-year growth rate. During the fourth quarter of 1998, Standard & Poor's assigned ratings to six additional commercial paper programs, all of which were multiseller programs. During the same time period, the number of new sellers entering existing conduits was significant at 438, making it the busiest quarter on...
Companies mentioned in this report are: Windmill Funding Corp.,Atlantis One Funding Corp.,ABN AMRO Bank N.V.
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.
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