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Fitch rates first subprime securitisation since the crash


Fitch and DBRS have rated the first subprime mortgage-backed securitisation since the financial crash, according to the Financial Times.

The $161.7m bond is backed by mortgages from US lender Caliber Home Loans and is marketed by Credit Suisse.

Hedge fund Lone Star bought the bond.

Fitch says the deal will be a “trailblazer” and that similar deals are likely to follow in the third quarter.

The rating agency says many investors demand ratings, and that the move reopens a potential market.

Lone Star will keep the $24m bottom two slices of the 30-year bond. The bottom tranche is unrated and the other is BB.



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GMAC-RFC completes subprime collateral securitisation valued at 757.5m

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A bull case for US equities?

Neptune video: a bull case for US equities?

Watch Felix Wintle, head of US equities at Neptune, discuss why he believes US equities are in a structural bull market and the key factors that can drive the S&P 500 higher.

In the video, Wintle addresses the following:

• The US market and why — despite equities rising from 2009 — he believes the structural bull market only started in 2013
• Key economic and corporate factors that can drive the S&P 500 higher
• Investment themes and sectors offering exposure to the domestic recovery


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