KBRA Releases Research – 2021 Sector Outlook: Structured Finance

NEW YORK–(BUSINESS WIRE)–Kroll Bond Rating Agency (KBRA) releases the 2021 Sector Outlook: Structured Finance, which summarizes salient points from each of our structured finance sector outlooks, including recent rating actions as well as Watch Placements, our expectations for new issue supply in 2021, and our views on credit fundamentals.

After a decade of economic expansion with only a few road bumps along the way (all seemingly minor in retrospect), we entered 2020 pondering what might finally cause the credit cycle to turn. There were no conspicuous catalysts that we could point to on the horizon. Tight labor markets and meaningful consumer deleveraging over the past decade were expected to support ABS and RMBS fundamentals, low interest rates, while solid GDP growth should have benefited corporate credit. Then there was the strong tenant demand and subdued construction that were supposed to support both property fundamentals and commercial real estate (CRE) valuations. But to “expect the unexpected” has never rung so true, as the eventual catalyst to end the longest economic expansion in U.S. history ended up not only being small, but microscopic.

Click here to view the report.

About KBRA and KBRA Europe

KBRA is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider and is a certified Credit Rating Agency (CRA) with the European Securities and Markets Authority (ESMA). Kroll Bond Rating Agency Europe Limited is registered with ESMA as a CRA. Kroll Bond Rating Agency Europe Limited is located at 6-8 College Green, Dublin 2, Ireland.

Contacts

Analytical


Brian Ford, CFA

Structured Finance Research

+1 (646) 731-2329

bford@kbra.com

Andrew Ye, Senior Analyst

Structured Finance Research

+1 (646) 731-1232

aye@kbra.com

Business Development


Ted Burbage, Managing Director

+1 (646) 731-3325

tburbage@kbra.com

error: Content is protected !!