Asset-Backed Commercial Paper


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Asset-Backed Commercial Paper

A short-term debt security issued by a corporation that is collateralized by some asset. In general, asset-backed commercial paper is secured by accounts receivables or something similar. It carries less risk than other commercial paper, which is unsecured. It is a highly liquid investment and forms part of the money market.
References in periodicals archive ?
By placing itself in the position of being the primary financier of the credit risk embedded in the pool of assets funded by the asset-backed commercial paper program in terms of value the sponsor takes the position of being the primary risk bearer and thus the "primary beneficiary".
CRC Funding, LLC asset-backed commercial paper at 'F1+';
Like other securitization programs, asset-backed commercial paper programs segregate assets into pools and transform these pools into market instruments.
Fitch's withdrawal of its rating on HVB's asset-backed conduit program, BUFCO is not expected to affect Fitch's rating on HVB's Long-term, Short-term and Individual corporate ratings, nor is it expected to affect its rating of 'F1' on HVB's fully supported asset-backed commercial paper program Bavaria TRR Corporation (TRR), also sponsored by HVB.
0 billion asset-backed commercial paper (CP) program, is rated 'F1' by Fitch Ratings.
DCMT I, series 2000-A, Newcastle program functions similarly to an asset-backed commercial paper program, whereby multiple tranches of short-term certificates are issued on a discount basis and redeemed with proceeds of new issuance over time.
NEW YORK -- Fitch Ratings has withdrawn its 'F1' rating for Cobblestone Funding LLC's (Cobblestone) asset-backed commercial paper (ABCP).
5 billion, partially supported, securities-backed asset-backed commercial paper program sponsored by Bayerische Landesbank, New York branch.
5 billion single-seller asset-backed commercial paper (CP) program, sponsored by General Motors Acceptance Corporation.
NEW YORK -- Giro Multi-Funding Corporation (GMFC), a $5 billion partially supported multi-seller, asset-backed commercial paper (ABCP) conduit, sponsored by Bayerische Landesbank, New York Branch (BayernLB), is rated 'F1+' by Fitch.
5 billion partially supported, hybrid asset-backed commercial paper program (ABCP), sponsored by Bayerische Landesbank, New York branch (BayernLB), is rated 'F1' by Fitch Ratings.
5 billion partially supported securities-backed, asset-backed commercial paper (ABCP) conduit, sponsored by Bayerische Landesbank, New York branch (BayernLB), is rated 'F1+' by Fitch Ratings.