Europe’s leveraged loan market remains on track for long-term growth in spite of a severe slowdown in issuance in the past 12 months, according to a report issued by Standard & Poor’s. In the six months to March 31, 2002, issuance plunged to 27.4 billion ($25.1 billion) from Euro43.3 billion over the same period the previous year. Although bank lending predominates, institutional investors–and collateralized debt obligation managers in particular–are developing an increasing appetite for such assets. ‘Nevertheless, given the complexity of these transactions, there is a need to clarify how the creditworthiness of leveraged loans is determined, to provide a better understanding of the rating process, and to identify the criteria used,’ said Blaise Ganguin, a director of Standard & Poor’s Corporate Ratings Europe. As the report points out, analyzing the credit quality of a leveraged loan is treated similarly to that of a highly leveraged company. Liquidity forms the prime focus because the financial profile can deteriorate significantly in a short period of time. As a result, particular attention is paid to underlying cash flow assumptions (including revenue growth), costs, capital spending, and debt service payments.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more