Daily News: April 20, 2015

Moody’s: GE Capital Asset Disposal Will Alter ABS Landscape

Moody’s Investor Service says in a new report that the disposal of the majority of GE Capital’s assets will alter the ABS landscape.

Moody’s notes that GE’s announced divestiture of most of its GE Capital businesses will impact the asset-backed securities (ABS) the unit sponsors owing to the potential transfer of servicing in the transactions to other entities.

Moody’s said the asset sales will affect three ABS sectors including asset-based loans, floorplan loans and equipment loan and leasing.

According to the Moody’s report, GE Capital issued about $4.8 billion in ABS deals since January 2014.

The report is available to Moody’s subscribers at: http://www.moodys.com/researchdocumentcontentpage.aspx?docid=PBM_1004519.