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July/August 2006

Vol. 4 No. 6
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ABF Journal, July/August 2006
July/August 2006

Asset-Based Lenders Providing
Refuge, Industry Leaders Say

In Weather Fair or Foul — ABLs Provide Borrowers With a Safe Port of Call
By Kevin Riordan, Freelance Writer

ABF Journal’s mid-year survey returns with ten top officials at large bank-owned asset-based lending taking
part in an accompanying round table discussion. While their opinions are nuanced, the executives agree the ABL
product has been fully embraced in corporate America. (Ref # MYS005)

The Small- to Mid-Market Sector — Waiting for the Tide to Turn
By Kevin Riordan, Freelance Writer

We asked a group of five smaller ABL executives to talk about issues such as maintaining credit standards,
sustaining growth, and the challenges and opportunities of doing business in an economy facing everything from
nascent inflation to rising energy costs. These savvy managers share their views on page 46. (Ref # MYS006)

ABL Delicacies Amid Cash Flow Feasts: Institutional Liquidity Feeds ABL Deal Innovation
By Maria C. Dikeos, Loan Pricing Corporation

In a market starving for loan assets, asset-based lenders have felt the hunger pangs a bit more acutely than
most in 2006. At just under $24 billion — and some time still left in the quarter — year-to-date
issuance is roughly on par with that of the first half of 2005. (Ref # IND078)

Read This Before Your Borrowers do — What Loan Rating Refinements Mean to Lenders
By Tod Trabocco, LBC Credit Partners

Ratings agencies have taken a big stride toward better discerning the different risks inherent in bank loans and bonds through its new updated bank loan methodology. In particular, Moody’s new methodology is an important attempt to reconcile the complexity inherent in capturing two factors with one rating. (Ref # CRD023)

The Lay of the Land — Providing ‘Smarter Capital’ to Customers
An Interview With Tom Quindlen, President & CEO, GE – Corporate Lending

ABF Journal spent some time with President and CEO of GE – Corporate Lending Tom Quindlen to discuss his new role at GE, how he’s expanded the scope of this business and how he and his team are providing “smarter capital” to their customers. (Ref # EXEC037)


Headed South… GMAC’s Retail Group Finances Hot Canadian Retailer’s Entry to the U.S.
By Andrew H. Moser, GMAC CF’s Retail Finance Group

Fair Vane Corporation wanted to convert 67 U.S. stores operating under the Weathervane banner, it turned to the Retail Finance Group of GMAC Commercial Finance. Within days, the stores were converted from Weathervane to Urban Behavior, a successful Canadian concept. (Ref # RETAIL010)


A Career in International Trade Finance Comes Full Circle
By Kara A. McDonald, Assistant Editor
When Peter Mulroy graduated from Rutgers University with a BA in Germanic studies, he never could have imagined where life would lead him. Now the head of CIT Commercial Services’ efforts overseas, Mulroy has traveled full circle to his scholastic roots.
(Ref # EXEC038)

From the Podium:Lasalle’s Sharkey Shares Economic Analysis at TMA Spring Panel Discussion
For a slight deviation from the norm, we thought that we’d turn the tables, so to speak, by including Michael Sharkey’s recent address to attendees at the TMA’s 2006 Spring Conference in Palm Desert last March.
‘Cram Down’ of Secured Creditor Under Chapter 11 Plan Requires Market Rate of Interest
By H. Joseph Acosta, Jones Day

Although non-consensual confirmation or “cram down” standards seem fairly straightforward, their application can sometimes be extremely complicated. Such was the case in the Chapter 11 bankruptcy of American HomePatient.
(Ref # LGL059)

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