Scope Ratings on Italian NPL ABS
A Webinar on Performance Review and Outlook
Scope Ratings held a webinar on the performance of Italian NPL securitisation and the outlook for the rest of 2023. Replay and pdf presentation avaliable
Scope analyses NPL performance through its annual and monthly NPL performance reports. The ongoing surveillance activity is also a key source of knowledge regarding transactions’ performance. The magnitude of Scope rating actions on NPLs is regularly tracked by its structured finance activity report.
The outlook of the rating Agency foresees the performance of NPL securitisations to remain subdued for the foreseeable future, although stable relative to last year. Downside risks in the medium term, including tightening financing conditions, inflationary pressures and geopolitical risk, could slow the Italian economy and weaken borrowers’affordability and liquidity, compromising collections.
Performance so far has been below Scope expectations but mixed versus servicers projections.
Selection from previous issues of this newsletter:
DBRS Morningstar analyzed in a Synthetic Commentary the recent trends and credit implications related to Italian unlikely-to-pay (UTP) securitization transactions.
A report, co-authored by BCG and QED Investors, provided a comprehensive study that aims to provide a deep understanding of fintech’s future landscape globally, including data-driven projections by segment and region.
Scopes’s recurrent report shows the performance of a static universe of Italian NPL securitisations originated pre-Covid and rated by Scope. The report is based on monthly servicing reports available to March 2023.
Link to the webinar page:
https://scoperatings.com/ratings-and-research/research/EN/174457
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