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Asset-Backed Commercial Paper Volume Climbs Higher In 2Q98 Sep 98
Standard & Poors, Sep 1998
Abstract
The asset-backed commercial paper market continued its impressive growth into the second quarter of 1998. The average commercial paper outstanding for partially enhanced programs in the second quarter of 1998 increased to $238.2 billion from $221.7 billion during the first quarter of 1998. During the second quarter of 1998, Standard & Poor's assigned ratings to an additional eight commercial paper programs, bringing the overall number of programs rated in 1998 to 19. The growth in the number of new sellers entering conduits during the second quarter was a rather impressive 227. This pushed the overall number of new sellers in the first half of 1998 to 395. The statistics for the first half of 1998 indicate that the asset-backed commercial...
Companies mentioned in this report are: Ally Financial Inc.,WestLB AG (Unsolicited Ratings),Windmill Funding Corp.
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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