Trade receivables securitization transactions are bucking the trend of the wider securitization market as corporates seek more affordable access to long-term financing.
Data from the Association for Financial Markets in Europe (AFME) shows that European securitized product issuance in the third quarter of last year was down more than 58% from the previous quarter.
There was also a notable fall in the percentage of credit ratings agency actions that resulted in an upgrade from 91% in the second quarter of 2023 to 78% in the following quarter.
This slump can clearly be linked to the rise in underlying base rates.
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