LONDON–(BUSINESS WIRE)–#KBRA–KBRA UK (KBRA) releases a report involving the results of its December 2023 European securitisation investor survey.
KBRA surveyed European structured finance investors to gauge their recent views and expectations regarding the market. This report aggregates and analyses the responses for KBRA’s fourth European investor survey, revealing a broadly positive picture for European securitisation markets. Market participants believe that spreads are poised to improve in the next six months and issuance is likely to increase. However, one-third still believe that market volatility and negative moves are possible in the near term.
Key Takeaways
- Investor expectations are the most positive since the first KBRA survey in June 2022, with most respondents anticipating a tightening bias in European securitisation markets. This is especially true for investors in collateralised loan obligations, ABS, and RMBS.
- Issuance is expected to be strong with a large pipeline of transactions anticipated in the new year, with most investors predicting an improvement on current levels. This is in line with our recent 2024 European Securitisation Sector Outlook.
- The UK remains the region of greatest concern for credit performance. However, some of the focus has moved to other regions, with general Pan-European concerns increasing significantly from the prior survey.
Click here to view the report.
Related Publications
- KBRA’s European Securitisation Survey: Diverging Views
- KBRA’s European Securitisation Survey: Glimpse of a Positive Turn?
- KBRA’s European Securitisation Survey Reveals Market Concerns
- European Securitisation: Recovery Continues
- European Securitisation: Market Returns to Pace
About KBRA
KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Contacts
Gordon Kerr, Head of European Research
+44 20 8148 1020
[email protected]
Business Development Contacts
Mauricio Noé, Co-Head of Europe
+44 20 8148 1010
[email protected]
Miten Amin, Managing Director
+44 20 8148 1002
[email protected]
