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3Q98 Volume Pushes Asset-Backed Commercial Paper Market To New Highs Sep 99
Standard & Poors, Sep 1999
Abstract
The asset-backed commercial paper market continued to grow in the third quarter of 1998. The average commercial paper outstanding for partially enhanced programs in the third quarter of 1998 increased to $285.7 billion from $238.2 billion at the end of the second quarter of 1998. During the third quarter of 1998, Standard & Poor's assigned ratings to five additional commercial paper programs, bringing the total number of programs rated in 1998 to 25. The number of new sellers entering existing conduits during the third quarter was significant, at 358. This surge of new sellers entering the market made it the busiest quarter on record. The overall number of new sellers entering the asset-backed commercial paper market through the first three...
Companies mentioned in this report are: WestLB AG (Unsolicited Ratings),Bayerische Landesbank,Metris Cos., Inc.
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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