Source: Lewtan Technologies
DBRS announced today that it will be using Lewtan Technologies, Inc.'s ABSNet and ABSNet Cash Flows services to help strengthen its presence in the European structured finance market.
"ABSNet provides DBRS with the largest surveillance and cash flow model library of ABS deals in Europe, which will be instrumental in helping us to quickly expand our European rating services," says Victoria Johnstone, Senior Vice President, Structured Finance Quantitative Group, DBRS. "In addition, ABSNet Cash Flows gives us the ability to accurately model the asset cash flows and note payment rules, which allows us to test each tranche under a variety of economic scenarios. Given that ABSNet also makes their own models available to subscribers at the pre-issuance stage, this contributes significantly to market transparency."
"DBRS is well respected in the industry for its extensive coverage of securitizations and structured finance transactions, and Lewtan is honored to be chosen to support the agency's growing rating activities in the United Kingdom and throughout Europe," says Aloysius Fekete, Director, Product Marketing, for Lewtan and its European ABSNet operations. "With ABSNet and ABSNet Cash Flows, DBRS can tailor its analytics with minimal input from its own IT staff and rapidly create a ratings platform for asset-backed securities leveraging Lewtan's extensive model library."
Europe, and the UK in particular, represent a large potential market for DBRS's services. DBRS already maintains European offices in London, Frankfurt, and Paris, and the Company plans to continue its expansion into Europe as its business grows. Lewtan also maintains a strong European presence, including local customer support, technical support, deal modeling, product marketing, and sales functions based out of its London office.