ABS

Uniti Group Inc. Reports First Quarter 2024 Results

Retrieved on: 
Friday, May 3, 2024
ROCK, Public expenditure, Synthetic media, ABS, Adjustment, Generative, Windstream Holdings, Growth, GCI

LITTLE ROCK, Ark., May 03, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) today announced its results for the first quarter 2024.

Key Points: 
  • LITTLE ROCK, Ark., May 03, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) today announced its results for the first quarter 2024.
  • Our core recurring strategic fiber business grew 4% in the first quarter of 2024 when compared to the first quarter of 2023.
  • Also, our net success-based capital intensity at Uniti Fiber during the quarter declined to 34% from 46% in the first quarter of 2023.
  • Uniti Fiber contributed $68.8 million of revenues and $23.8 million of Adjusted EBITDA for the first quarter of 2024.

KBRA Assigns Preliminary Ratings to Pagaya AI Debt Grantor Trust 2024-5 and Pagaya AI Debt Trust 2024-5

Retrieved on: 
Thursday, May 2, 2024
Professional Services, Finance, ABC, Class, Machine learning, PGY, KBRA, Certificate, Power amplifier classes, Credit, ABS, Note, Telescopic sight

KBRA assigns preliminary ratings to seven classes of notes issued by Pagaya AI Debt Grantor Trust 2024-5 and Pagaya AI Debt Trust 2024-5 (collectively “PAID 2024-5”), a consumer loan ABS transaction.

Key Points: 
  • KBRA assigns preliminary ratings to seven classes of notes issued by Pagaya AI Debt Grantor Trust 2024-5 and Pagaya AI Debt Trust 2024-5 (collectively “PAID 2024-5”), a consumer loan ABS transaction.
  • PAID 2024-5 has initial credit enhancement levels of 63.43% for the Class A Notes to 6.69% for the Class E Notes.
  • Credit enhancement is comprised of overcollateralization, subordination of junior note classes, a cash reserve account funded at closing, and excess spread.
  • This transaction is the 22nd publicly rated securitization sponsored by Pagaya Structured Products LLC (collectively with its affiliates, “Pagaya” or the “Company”).

Quarterly Review

Retrieved on: 
Friday, May 3, 2024
Rotation, Update, Risk, Education, Policy, Climate, ECB, NAV, Warner Bros., ICE, AAA, Bond credit rating, General Motors, Bank of England, Politics, Bank, CTP, ABS, BBB, Disinflation, Fed, Lisp (programming language), Hamas, Credit

The Company announces that its quarterly review as at 31 March 2024 is now available, a summary of which is provided below.

Key Points: 
  • The Company announces that its quarterly review as at 31 March 2024 is now available, a summary of which is provided below.
  • The full quarterly review is available on the Company’s website at:
    The first quarter of the year saw further declines in inflation across most major economies, however with progress slower than expected, market sentiment turned to concern that the inflation fight would prove increasingly difficult for central banks over the final stretch.
  • The Company’s NAV total return in Q1 was +2.42% which outperformed the benchmark for the third consecutive quarter.
  • In selling these bonds we were able to crystalise healthy capital gains which contributed to the Company’s outperformance versus the benchmark.

Linklogis Starts First Quarter with Strong Performance, with the Transaction Volume Reaching RMB96.2 Billion

Retrieved on: 
Tuesday, April 23, 2024
Cloud, Transfer, Data Trading, Momentum, Infor, Intelligence, Vietnamese, Business, Digital technology, Tourism, PDD, SME, Multi, Blockchain, Research, ABS, Gold, SRM, Dongfeng Motor Corporation, OPPO, Data, Trust, Share repurchase, CITIC Securities, Cryptocurrency

The total transaction volume processed by its technology solutions in the first quarter reached RMB96.2 billion, a year-over-year increase of 45%, reaching a historical high for a single quarter.

Key Points: 
  • The total transaction volume processed by its technology solutions in the first quarter reached RMB96.2 billion, a year-over-year increase of 45%, reaching a historical high for a single quarter.
  • As of April 22, 2024, the cash reserves of Linklogis reached RMB5.2 billion, an increase of RMB400 million compared to December 31, 2023.
  • Transaction Volume Reaches RMB96.2 Billion, with Strong Growth in Core Business Sectors
    In 2024, Linklogis continued to focus on the development of its two core sectors: Anchor Cloud and FI Cloud, while simultaneously pursuing stable growth and high-quality development.
  • In the first quarter, Linklogis cooperated with Dongfeng Motor Corporation and helped it build a supply chain finance service platform, which successfully issued the first digital accounts receivable certificate to suppliers.

Global Jet Capital Completes Securitization, Raising $575M

Retrieved on: 
Tuesday, April 16, 2024
Morgan Stanley, Deutsche Bank, Bookrunner, S&P Global Ratings, ABS, Citigroup, BofA Securities

Danbury, CT, April 16, 2024 (GLOBE NEWSWIRE) -- Global Jet Capital, a global leader in financial solutions for business aircraft, announced today the closing of its BJETS 2024-1 securitization, raising approximately $575 million.

Key Points: 
  • Danbury, CT, April 16, 2024 (GLOBE NEWSWIRE) -- Global Jet Capital, a global leader in financial solutions for business aircraft, announced today the closing of its BJETS 2024-1 securitization, raising approximately $575 million.
  • BJETS 2024-1 is Global Jet Capital’s seventh asset-backed security (ABS) offering, bringing total assets securitized to approximately $5.1 billion and bonds issued to approximately $4.2 billion.
  • Vivek Kaushal, CEO of Global Jet Capital, stated, “We are very pleased with the results of our latest successful issuance.
  • This successful issuance is underpinned by the hard work and dedication of the Global Jet Capital team, and I am grateful for their contributions.”

Redwood Trust Reports First Quarter 2024 Financial Results

Retrieved on: 
Tuesday, April 30, 2024
Finance, Banking, Professional Services, Residential Building & Real Estate, Construction & Property, Sale, Investment, Housing, CAFL, BPL, News, Annual report, Security (finance), Partnership, Webcast, Growth, Letter, EPS, ABS, Fed, RPL, RWT, Finance Secretary (India), Airline

Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company", "we" or "our"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended March 31, 2024.

Key Points: 
  • Redwood Trust, Inc. (NYSE:RWT; "Redwood", the "Company", "we" or "our"), a leader in expanding access to housing for homebuyers and renters, today reported its financial results for the quarter ended March 31, 2024.
  • Abate continued, "Overall, our first quarter results are reflective of tangible, positive financial momentum, substantiating the impact of our strategies.
  • A further discussion of Redwood's business and financial results is included in the first quarter 2024 Shareholder Letter and Redwood Review which are available under "Financial Info" within the Investor Relations section of the Company’s website at redwoodtrust.com/investor-relations.
  • Redwood will host an earnings call today, April 30, 2024, at 2:00 p.m. Pacific Time / 5:00 p.m. Eastern Time to discuss its first quarter 2024 financial results.

Sunrun Prices $230 million Senior Securitization of Residential Solar & Battery Systems

Retrieved on: 
Wednesday, April 10, 2024
Sale, Truist, National Grid, FICO, ARD, Bank, SAN, Bank of America, ABS

“Sunrun’s industry-leading performance as an originator and servicer of residential solar assets continues to provide deep access to attractively priced capital,” said Danny Abajian, Sunrun’s Chief Financial Officer.

Key Points: 
  • “Sunrun’s industry-leading performance as an originator and servicer of residential solar assets continues to provide deep access to attractively priced capital,” said Danny Abajian, Sunrun’s Chief Financial Officer.
  • The advance rate is 7 percentage points higher than the senior tranche in Sunrun’s prior securitization of more recently originated assets.
  • The notes are backed by a diversified portfolio of 27,094 solar rooftop systems distributed across 19 states and Washington D.C. and 65 utility service territories.
  • The portfolio is jointly owned by National Grid (NG) and Sunrun, with NG receiving the majority of cash flows through 2042.

KBRA Assigns Preliminary Ratings to TierPoint Series 2024-1

Retrieved on: 
Thursday, April 25, 2024
Professional Services, Finance, KBRA, ABS, Note, Trust

KBRA assigns ratings to the Series 2024-1 Class B Notes (TierPoint 2024-1) issued by TierPoint Issuer, LLC and TierPoint Co-Issuer, LLC (the Co-Issuers), a data center ABS transaction.

Key Points: 
  • KBRA assigns ratings to the Series 2024-1 Class B Notes (TierPoint 2024-1) issued by TierPoint Issuer, LLC and TierPoint Co-Issuer, LLC (the Co-Issuers), a data center ABS transaction.
  • In addition to the issuance of the Series 2024-1, Class B Notes, the Series 2023-2, Class A-2 Notes will be upsized from $475 million to $900 million.
  • TierPoint 2024-1 represents the third series of notes issued by TierPoint Issuer, LLC and TierPoint Co-Issuer, LLC.
  • KBRA anticipates affirming the ratings of the Series 2023-1/2 Notes with the issuance of TierPoint 2024-1.

NOV Reports First Quarter 2024 Results, Return of Capital Framework, $1 Billion Share Repurchase Authorization, and Plan to Increase Dividend 50%

Retrieved on: 
Thursday, April 25, 2024
Energy, Other Energy, Oil, Gas, Investment, RFM, NACE, Water, Growth, Gulf of Mexico, Wind, RCX, Economics, RSS, Traction, Communication, Halogenation, BHA, Robotics, Safety, IA Financial Group, Chlorinated polyvinyl chloride, Artificial intelligence, FGS, Carbon, Public expenditure, Automation, ABS, FPSO, BOP, Stainless steel, NOV, Acquisition, Share repurchase, Adjustment, Engineering, Service, Video game

NOV Inc. (NYSE: NOV) today reported first quarter 2024 revenues of $2.16 billion, an increase of 10 percent compared to the first quarter of 2023.

Key Points: 
  • NOV Inc. (NYSE: NOV) today reported first quarter 2024 revenues of $2.16 billion, an increase of 10 percent compared to the first quarter of 2023.
  • Energy Equipment generated revenues of $1,178 million in the first quarter of 2024, an increase of 12 percent from the first quarter of 2023.
  • The first quarterly dividend of $0.075 per share is anticipated to be paid out during the quarter ended June 30, 2024.
  • NOV will hold a conference call to discuss its first quarter 2024 results on April 26, 2024 at 10:00 AM Central Time (11:00 AM Eastern Time).

KBRA Comments on Amendment to Momnt Technologies Trust 2023-1

Retrieved on: 
Thursday, April 25, 2024
Consulting, Banking, Professional Services, Finance, Sponsor, Trust, Initial, KBRA, ABS, Collection, Security (finance)

On April 19, 2024, Momnt Technologies Trust 2023-1 (“MMNT 2023-1” or the “Trust”), a home improvement loan ABS transaction, was amended to allow for the conveyance of approximately $8.09 million of additional collateral (“Additional Collateral”) into the Trust.

Key Points: 
  • On April 19, 2024, Momnt Technologies Trust 2023-1 (“MMNT 2023-1” or the “Trust”), a home improvement loan ABS transaction, was amended to allow for the conveyance of approximately $8.09 million of additional collateral (“Additional Collateral”) into the Trust.
  • Momnt Technologies Inc. (“Momnt” or the “Company”) was founded in 2019 and is a financial technology company headquartered in Atlanta, GA.
  • The Momnt 2023-1 transaction initially closed on December 22, 2023.
  • KBRA is not effectuating rating actions at this time, and will continue to monitor the situation in conjunction with its ongoing surveillance effort.