- Language: English
- Published: November 2004
- Region: Europe
U.S. Structured Credit Roundtable: After A Robust Year, Whole Business And Royalty Securitization Is Promising For 2012 Jan 12
- Published: January 2012
- Region: United States
- Standard & Poors
Whole business and royalty securitizations offer investors an alternative from traditional asset-backed securities (ABS) to raise liquidity with generally lower correlations to the overall economy, according to panelists at a recent roundtable discussion hosted by Standard & Poor's Ratings Services. A diverse range of companies (from timber companies, restaurant chains, billboard companies, and film libraries) have, during the past year, securitized future cash flows from intellectual property--copyrights, trademarks, patents, royalties, etc.--or hard assets through bankruptcy-remote special-purpose entities. The sector still remains a niche market with a relatively narrow investor base and limited standardization because these typically one-off deals are secured by such a wide range of assets and take a long time to analyze. That said, increasing numbers of investors...
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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