Company

Event Information

KBRA's Miten Amin, Managing Director, Business Development and Gabriele Gramazio, Director, Structured Credit will be attending the CLO Symposium 2021 on 8 September 2021.

Additional Information

For more information, please contact events@kbra.com

Event Information

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KBRA's Structured Credit team along with a highly esteemed group of market participants comprising of investors, managers, arrangers and traders for an update on current trends in the European CLO Market.

Key Topics:

• 2020 European CLO Market Overview

• KBRA European CLO Credit Outlook 2021

• European CLO Primary Market Outlook 2021 focusing on structural genesis, refi’s/reset prospects and investor evolution

• European CLO Secondary Market dynamics in 2021 including relative value, tiering, investor behavior and analytics

• European Leveraged Loan and HY market Outlook in 2021 focusing on COVID-19 correlated sectors, docs and macro rebound prospects

Panel:

Opening Remarks: Miten Amin, Senior Director, KBRA

Moderator: Eric Hudson, Senior Managing Director, KBRA

Panelists:

• Olivier Pons, Senior Portfolio Manager and Analyst, AXA Investment Managers

• Edwin Wilches, Senior Portfolio Manager, PGIM

• Nikunj Gupta, Head of European New Issue CLO, Deutsche Bank

• Tyler Wallace, Partner, Fair Oaks Capital

• Peter Cui, ABS/CLO Trader, Natixis

Additional Information

For more information, please contact media@kbra.com

Event Information

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Key Topics:

• Performance of SFR deals

• What are we seeing in asset management and servicing?

• Are you underwriting and managing risk differently?

• What are the opportunities in a COVID-19 environment?

• What are the new issuance trends and forecasts?

Panel:

Moderator: Daniel Tegan, Senior Director, CMBS, KBRA

Panelists:

• Ashkay Maheshwari, Senior Director, CMBS, KBRA

• Trevor Moffitt, Executive Director, Morgan Stanley

• Matthew Orrino, Senior Vice President - Head of Capital Markets, CoreVest Finance

• William Dugger Schwartz, Senior Vice President - Real Estate Solutions, Midland Loan Services

• Bill Richard, Executive Vice President of Investments and Asset Management, Tricon American Homes

Additional Information

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Event Information

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Key Topics:

• Broad view of current economy post-election

• Views on 3Q 2020 results of our portfolio of regional and community banks

• Asset quality trends including an update on COVID-vulnerable sectors and loan deferrals

• Updated rating outlook for the U.S. banking sector

Panel:

Moderator: Van Hesser, Chief Strategist, KBRA

Panelists:

• Ashley Phillips, Senior Director, KBRA

• Brian Ropp, Senior Director, KBRA

Additional Information

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Event Information

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Key Topics:

• Structures: What is the leading structural innovation amid COVID-19? What is trending in interest diversion cushion breaches?

• Assets: Asset performance through lockdown – CCCs, WARF/risk-taking, NAV bounce, and sectoral focus. Where are defaults headed?

• Manager Performance: Benchmarking YTD, new managers, US managers setting up in Europe.

• Market Technicals: What are the critical milestones ahead for CLOs? Brexit, COVID-19 vaccine, 2020 US elections (will a democrat government be bearish on CLO prospects?), 2021 German elections?

• Relative Value: Where in the curve is there value and why? What point does the market price in the likelihood of refis and resets? Primary versus Secondary supply dynamics.

Panel:

Opening Remarks: Miten Amin, Senior Director, KBRA

Moderator: Eric Hudson, Senior Managing Director, KBRA

Panelists:

• David Altenhofen, Debt Investor, Pension Denmark

• Scott Duggal, Investment Director, Aberdeen Standard Investments

• Michael Htun, Portfolio Manager, Cairn Capital

Additional Information

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Event Information

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Key Topics:

• The impact of financialization of the economy on growth in debt: Do we need to adjust our views of how much debt is too much debt?

• Leverage vs. debt service: What is the effect of ultra-low rates?

• The efficacy of government/central bank policy: Are we creating a debt bubble?

We will provide updated outlooks on:

• Bankruptcies and defaults

• The market's ability to absorb fallen angels

Speakers:

• Dr. Edward Altman, Max L. Heine Professor of Finance Emeritus at New York University, Stern School of Business, Director of the Credit and Fixed Income Research Program at the NYU Salomon Center, and Senior Advisor to KBRA

• Van Hesser, Senior Managing Director and Chief Strategist, KBRA

• Dr. Harry Mamaysky, Professor of Professional Practice and Director of the Program for Financial Studies at Columbia Business School, and Consultant to KBRA Analytics

Additional Information

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Event Information

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Key Topics:

• 2020 default and recovery rates for high-yield US issuers, with industry sector highlights

• Historical relationship between default and recovery rates

• Performance of bonds and loans of defaulted corporate issuers

• Historical performance of distressed credit following large sell-offs

• Future default rates projections using a macro forecasting approach

Speakers:

• Van Hesser, Senior Managing Director and Chief Strategist, KBRA

• Harry Mamaysky, Professor of Professional Practice at Columbia Business School, Director of the Program for Financial Studies

Additional Information

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Event Information

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Key Topics:

An update on the state of the consumer, including:

• Auto Loan ABS

• Consumer loan ABS

• Credit Card ABS

• Housing

Speakers:

• Introduction: Kristi Leo, President, Structured Finance Association

• Rosemary Kelley, Head of ABS

• Eric Neglia, Head of Consumer ABS

• Jack Kahan, Head of RMBS

• Brian Ford, Senior Director, Head of Structured Finance Research

• Melvin Zhou, Senior Director, Consumer ABS

Additional Information For more information, please contact media@kbra.com

Event Information

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Key Topics:

• Overview of KBRA’s Structured Credit Platform and Methodology

• US BSL CLO Corporate Sector Exposure

• Structure and Manager Trends

• CLO Performance

• Sensitivity and Surveillance views.

Speakers:

• Introduction: Caitlin Colvin, Managing Director

• Eric Hudson, Senior Managing Director, Structured Credit

• Stevyn Schutzman, Managing Director, Corporates

• Sean Malone, CFA, Director, Structured Credit

Additional Information For more information, please contact media@kbra.com

Event Information

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Key Topics:

• A brief overview of the macroeconomic conditions relating to US RMBS performance expectations.

• KBRA’s early stage analysis of loan attributes associated with forbearance and delinquency.

• KBRA’s current approach to addressing risks in newly issued ratings.

• Features and unique considerations in Post-COVID RMBS issuance.

• Nuances of pre-COVID issuance, ratings implications, and KBRA’s Watch Placement views.

Speakers:

• Introduction: Caitlin Colvin, Managing Director, Investor Relations

• Moderator: Jack Kahan, Senior Managing Director

• Ed DeVito, Managing Director

• Patrick Gervais, Managing Director

• Sharif Mahdavian, Managing Director

• Brian Ford, Senior Director​, Head of Structured Finance Research

Additional Information

For more information, please contact media@kbra.com

Event Information

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Key Topics:

• How is BDC leverage, asset quality and liquidity impacting management’s ability to steer through the crisis?

• Why asset coverage is so important?

• Aside from liquidity, are there certain attributes you view favorably in the current environment?

• Where do BDCs stand in terms of outstanding unfunded committed obligations vs liquidity?

Speakers:

• Marjan Riggi, Head of Aviation, Transportation and Commercial Finance

• Boris Alishayev, Senior Director

• Teri Seelig, Director

Additional Information

For more information, please contact media@kbra.com

Event Information

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Key Topics:

• High-Level view of macro situation and resiliency of U.S. banking sector

• Key themes from 1Q20 results and expectations going forward

• COVID-19 direct exposures and broad economic effects on credit portfolios

• Rating outlook for the U.S. banking sector

Speakers:

• Moderator: Van Hesser, Chief Strategist

• Ian Jaffe, Managing Director, Financial Institutions

• Joe Scott, Managing Director, Financial Institutions

• Shannon Servaes, Managing Director, Financial Institutions

Additional Information

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Event Information

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Key Topics

• KBRA’s Approach to Analyzing Impact of COVID-19 on Auto Loan ABS

• Unemployment and Correlation with Defaults

• Impact of Economic Slowdown and Fiscal Stimulus Efforts

• Benefits of Auto Loan ABS Structures on Ratings

• Discussion of KBRA’s Watch Status & Ratings Outlook

• ABS Market Update

Speakers

• Rosemary Kelley - Senior Managing Director, Head of ABS, KBRA

• Eric Neglia - Managing Director, Head of Consumer ABS, KBRA

• Melvin Zhou - Senior Director, Consumer ABS, KBRA

• Brian Ford - Senior Director, Head of Structured Finance Research, KBRA

Additional Information

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Event Information

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Key Topics

1. Sovereign Balance Sheets

2. US Federal Government

3. Public Finance Credits

Speakers

• William Cox - Senior Managing Director & Global Head of Corporate, Financial, and Government Ratings, KBRA

• Karen Daly - Senior Managing Director, Public Finance/Financial Guarantors, KBRA

• Joan Feldbaum-Vidra - Managing Director, Sovereigns, KBRA

Additional Information

For more information, please contact events@kbra.com

Event Information

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Key Topics

• How Balance Sheets/Investments are Being Affected

• What Insurers can do to Bolster Capital (if need be) due to Hits the Balance Sheet Takes due to COVID-19

• What the Upcoming Renewal Season Might Look like Amid COVID-19

Speakers

• Nicholas Dranchak - Executive Vice President, Capital Management, BMS Re US

• Peter Giacone - Managing Director & Global Practice Leader, Insurance Ratings, KBRA

• Erica Mui - Managing Director, FIG Debt Capital Markets, Morgan Stanley

Additional Information

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Event Information

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Key Topics

1. State of the Corporate Market

2. COVID-19 and the Energy Industry

3. Industry Ranking Report

4. The Impact of Corporate Credit Quality and Signals to Investors.

Additional Information

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Event Information

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Speakers

• Garret Tynan - Senior Director, European Head of Infrastructure and Project Finance, KBRA

Additional Information

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Event Information

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Key Topics

• Airlines pre and post COVID-19

• How the virus will change the role of aircraft lessors

• OEM’s/supply chains’ critical role in shaping the future

• KBRA’s measure approach to ratings and financing trends

Speakers

• Marjan Riggi - Senior Managing Director, Aviation, Transportation and Commercial Finance, KBRA

Additional Information

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Event Information

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Key Topics

• UK Sovereigns

• UK RMBS

• Building Societies and the Impact of COVID-19

Speakers

• Mauricio Noe - Senior Managing Director and Head of Europe, KBRA

• Alan Madden - Director of Sovereigns, KBRA

• Kali Sirugudi - Senior Director RMBS, KBRA

• Joanna Drobnik - Director Financial Institutions, KBRA

Additional Information

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Event Information

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Key Topics

• Sectors Most Effected

• Renewable energy and merchant power prices

• Evaluating credit quality in the current environment.

Speakers

• William Cox - Senior Managing Director, Global Head of Corporate, Financial, and Government Ratings, KBRA

• Andrew Giudici - Senior Managing Director, Project Finance, Infrastructure and Corporates, KBRA

Additional Information

For more information, please contact media@kbra.com