CFA Fixed Income 作业 Part2 第1题
Asset-backed securities (ABS) may have a higher credit rating than the seller’s corporate bonds because:
A. The special purpose vehicle is a separate entity
B. The seller’s ABS are senior to its corporate bonds
C. ABS are investment grade while corporate bonds may be speculative grade
1个回答
panda 老师回答于2年之前
The SPV in a securitization is a separate legal entity and thereby bankruptcy-remote from the seller, which means the seller’s creditors do not have a claim against the pool of assets underlying an ABS. So the ABS may have a higher credit rating than the seller’s corporate bonds.
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