CNONGD

Finance, Credit and Loan Information

August, 2016

Central Bank Follies – QE, Negative Interest Rates And Regulatory Capital

‘Last Week Tonight’ Tries to Sell You a Predatory Car Loan

On Sundays Last Week Tonight, John Oliver took on sub-prime auto loans. This practice is used by dealers and lenders to lure customers with poor credit into loans with high interest rates that they will likely default on. The practice has become increasingly predatory as lenders have aggressively targeted people who have declared bankruptcy. Some […]

Fitch Rates Sound Point CLO XII, Ltd./LLC

CHICAGO–(BUSINESS WIRE)–Fitch Ratings assigns the following ratings and Rating Outlooks to Sound Point CLO XII Ltd./LLC: –$5,250,000 Class X notes AAAsf, Outlook Stable; –$451,500,000 Class A notes AAAsf, Outlook Stable; –$55,500,000 Class B-1 notes AAsf, Outlook Stable. Fitch does not rate the class B-2, C, D, or E notes or the subordinated notes. TRANSACTION SUMMARY […]

Fitch to Rate KKR CLO 15 Ltd./LLC; Issues Presale

Fitch Ratings expects to assign the following ratings and Rating Outlooks to KKR CLO 15 Ltd./LLC: –$2,500,000 class X notes AAAsf; Outlook Stable; –$206,000,000 class A-1A notes AAAsf; Outlook Stable; –$0 class A-1B notes AAAsf; Outlook Stable; –$50,000,000 class A-1L loans AAAsf; Outlook Stable. Fitch does not expect to rate the class B, C, D, […]

Trust Indenture Act Litigation by Plaintiff Firms May Interfere With Out-of-Court Restructurings

Several recent cases in the United States District Court for the Southern District of New York have created ambiguity about when distressed exchange offers violate Section 316(b) of the 1939 Trust Indenture Act (the TIA). It appears that plaintiffs lawyers are using this ambiguity to challenge distressed exchange offers. The threat of litigation may give […]