Archive for January 22, 2016

How to get the best and safest personal loan?

A personal loan is the loan borrowed to meet personal requirements. This type of loan can be obtained from a bank or other organization lending loans and making a clear agreement for repayments specifying the monthly installments and due dates for payments. If you go for a personal loan, you should ensure that you make the payment of installment between the specified dates or it may amount to losing your property, if you are a defaulter.

The personal loan can be utilized for different personal uses such as for your business, to purchase a vehicle, for making a holiday trip, to renovate a house or to meet unforeseen expenses, etc.There are two types of personal loans. One is a secured mortgage and other is unsecured loan. A secured loan is available against mortgaging any property to the loaner as a security against any default in returning the loan. The loaner has the right to sell the property to recover his money.

The other kind of personal Loans such as unsecured personal loans. These loans are the loans which any borrower can avail without going through many legal hassles. Also these unsecured loans do not require any kind of pledged security. However, these kinds of loans carry a higher rate of interest than the secured counterparts as the interests of the lender are in a far dangerous position since there is no involvement of any security. These loans are great options for those who do not want to risk their intangible or tangible assets while availing the loans. Such people may include tenants, non property owners. Also these loans are best suited for the people who are suffering from bad credit history.

There are so many players emerging in the personal market, as a result there are serious financial issues in the market related the types of loans provided by them.
It does not mean that people should desist from getting a personal loan. You need to be confident about the financial institution before getting a loan that the mortgage is safe and the lending institution is renowned. There are a few doubtful institutions in the market who may try to grab your property, if you are not careful.

It is not a problem to secure a cash loan for those have good credit rating or possess property or own a business. They can get personnel loans easily from recognized financial institutions which have a clean record and good customer relations on the basis of good credit score or by providing a collateral.

You may be in a dire need of getting a loan to meet some of your urgent needs. Before applying for a loan, you should be aware of what types of loans are available for a particular purpose. If you are not able to take a decision, it is better to consult a financial advisor. You should get offers from different lenders for personal mortgage. It is a good alternative for those to get loans online, if you do not have a bank or financial institution nearby to cater to your needs. If you are looking for resources from where you can get a personal loan, then get the details on Personal loans from the link. You will get some good loan offers here!

Moody’s assigns provisional ratings to eight classes of notes to be issued by Arbour CLO III Limited

Frankfurt am Main, January 18, 2016 — Moodys Investors Service announced that it has assigned the following
provisional ratings to notes to be issued by Arbour CLO III Limited (the
Issuer or Arbour CLO III):

….EUR 230,000,000 Class A-1
Senior Secured Floating Rate Notes due 2029, Assigned (P)Aaa (sf)

….EUR 10,000,000 Class A-2
Senior Secured Fixed Rate Notes due 2029, Assigned (P)Aaa (sf)

….EUR 19,000,000 Class B-1
Senior Secured Floating Rate Notes due 2029, Assigned (P)Aa2 (sf)

….EUR 25,000,000 Class B-2
Senior Secured Fixed Rate Notes due 2029, Assigned (P)Aa2 (sf)

….EUR 23,000,000 Class C Senior
Secured Deferrable Floating Rate Notes due 2029, Assigned (P)A2
(sf)

….EUR 23,500,000 Class D Senior
Secured Deferrable Floating Rate Notes due 2029, Assigned (P)Baa2
(sf)

….EUR 27,500,000 Class E Senior
Secured Deferrable Floating Rate Notes due 2029, Assigned (P)Ba2
(sf)

….EUR 11,750,000 Class F Senior
Secured Deferrable Floating Rate Notes due 2029, Assigned (P)B2
(sf)

Moodys issues provisional ratings in advance of the final sale of financial
instruments, but these ratings only represent Moodys preliminary
credit opinions. Upon a conclusive review of a transaction and
associated documentation, Moodys will endeavor to assign definitive
ratings. A definitive rating (if any) may differ from a provisional
rating.

RATINGS RATIONALE

Moodys provisional rating of the rated notes addresses the expected loss
posed to noteholders by the legal final maturity of the notes in 2029.
The provisional ratings reflect the risks due to defaults on the underlying
portfolio of loans given the characteristics and eligibility criteria
of the constituent assets, the relevant portfolio tests and covenants
as well as the transactions capital and legal structure. Furthermore,
Moodys is of the opinion that the collateral manager, Oaktree Capital
Management (UK) LLP/Oaktree Capital Management (Europe) LLP (Oaktree),
has sufficient experience and operational capacity and is capable of managing
this CLO.

Arbour CLO III is a managed cash flow CLO. At least 90%
of the portfolio must consist of senior secured loans and senior secured
floating rate notes and up to 10% of the portfolio may consist
of unsecured loans, second-lien loans, mezzanine obligations
and high yield bonds. The bond bucket gives the flexibility to
Arbour CLO III to hold bonds. The portfolio is expected to be 70%
ramped up as of the closing date and to be comprised predominantly of
corporate loans to obligors domiciled in Western Europe.

Oaktree will manage the CLO. It will direct the selection,
acquisition and disposition of collateral on behalf of the Issuer and
may engage in trading activity, including discretionary trading,
during the transactions four-year reinvestment period.
Thereafter, purchases are permitted using principal proceeds from
unscheduled principal payments and proceeds from sales of credit risk
and credit improved obligations, and are subject to certain restrictions.

In addition to the eight classes of notes rated by Moodys, the
Issuer will issue EUR44.6m of subordinated notes, which will
not be rated.

The transaction incorporates interest and par coverage tests which,
if triggered, divert interest and principal proceeds to pay down
the notes in order of seniority.

Factors that would lead to an upgrade or downgrade of the ratings:

The rated notes performance is subject to uncertainty. The notes
performance is sensitive to the performance of the underlying portfolio,
which in turn depends on economic and credit conditions that may change.
Oaktrees investment decisions and management of the transaction
will also affect the notes performance.

Loss and Cash Flow Analysis:

Moodys modeled the transaction using CDOEdge, a cash flow model
based on the Binomial Expansion Technique, as described in Section
2.3 of the Moodys Global Approach to Rating Collateralized Loan
Obligations rating methodology published in December 2015. The
cash flow model evaluates all default scenarios that are then weighted
considering the probabilities of the binomial distribution assumed for
the portfolio default rate. In each default scenario, the
corresponding loss for each class of notes is calculated given the incoming
cash flows from the assets and the outgoing payments to third parties
and noteholders. Therefore, the expected loss or EL for each
tranche is the sum product of (i) the probability of occurrence of each
default scenario and (ii) the loss derived from the cash flow model in
each default scenario for each tranche. As such, Moodys
encompasses the assessment of stressed scenarios.

Moodys used the following base-case modeling assumptions:

Par amount: EUR 400,000,000

Diversity Score: 35

Weighted Average Rating Factor (WARF): 2750

Weighted Average Spread (WAS): 3.9%

Weighted Average Recovery Rate (WARR): 42%

Weighted Average Life (WAL): 8 years.

Moodys has analysed the potential impact associated with sovereign related
risk of peripheral European countries. As part of the base case,
Moodys has addressed the potential exposure to obligors domiciled in
countries with local currency country risk ceiling of A1 or below.
Following the effective date, and given the portfolio constraints
and the current sovereign ratings in Europe, such exposure may not
exceed 10% of the total portfolio. As a result and in conjunction
with the current foreign government bond ratings of the eligible countries,
as a worst case scenario, a maximum 10% of the pool would
be domiciled in countries with A3 local currency country ceiling.
The remainder of the pool will be domiciled in countries which currently
have a local or foreign currency country ceiling of Aaa or Aa1 to Aa3.

Stress Scenarios:

Together with the set of modeling assumptions above, Moodys conducted
additional sensitivity analysis, which was an important component
in determining the provisional rating assigned to the rated notes.
This sensitivity analysis includes increased default probability relative
to the base case. Below is a summary of the impact of an increase
in default probability (expressed in terms of WARF level) on each of the
rated notes (shown in terms of the number of notch difference versus the
current model output, whereby a negative difference corresponds
to higher expected losses), holding all other factors equal:

Percentage Change in WARF: WARF + 15% (to 3163 from
2750)

Ratings Impact in Rating Notches:

Class A-1 Senior Secured Floating Rate Notes: 0

Class A-2 Senior Secured Fixed Rate Notes: 0

Class B-1 Senior Secured Floating Rate Notes: -2

Class B-2 Senior Secured Fixed Rate Notes: -2

Class C Senior Secured Deferrable Floating Rate Notes: -2

Class D Senior Secured Deferrable Floating Rate Notes: -2

Class E Senior Secured Deferrable Floating Rate Notes: -1

Class F Senior Secured Deferrable Floating Rate Notes: -1

Percentage Change in WARF: WARF +30% (to 3575 from 2750)

Class A-1 Senior Secured Floating Rate Notes: -1

Class A-2 Senior Secured Fixed Rate Notes: -1

Class B-1 Senior Secured Floating Rate Notes: -3

Class B-2 Senior Secured Fixed Rate Notes: -3

Class C Senior Secured Deferrable Floating Rate Notes: -3

Class D Senior Secured Deferrable Floating Rate Notes: -2

Class E Senior Secured Deferrable Floating Rate Notes: -2

Class F Senior Secured Deferrable Floating Rate Notes: -3

Given that the transaction allows for corporate rescue loans which do
not bear a Moodys rating or Credit Estimate, Moodys
has also tested the sensitivity of the ratings of the notes to changes
in the recovery rate assumption for corporate rescue loans within the
portfolio (up to 5% in aggregate). This analysis includes
haircuts to the 50% base recovery rate which we assume for corporate
rescue loans if they satisfy certain criteria, including having
a Moodys rating or Credit Estimate.

Further details regarding Moodys analysis of this transaction may be
found in the upcoming pre-sale report, available soon on
Moodys.com.

Methodology Underlying the Rating Action:

The principal methodology used in these ratings was Moodys Global Approach
to Rating Collateralized Loan Obligations published in December 2015.
Please see the Credit Policy page on www.moodys.com for
a copy of this methodology.

REGULATORY DISCLOSURES

For further specification of Moodys key rating assumptions and sensitivity
analysis, see the sections Methodology Assumptions and Sensitivity
to Assumptions of the disclosure form.

Further information on the representations and warranties and enforcement
mechanisms available to investors are available on

http://www.moodys.com/viewresearchdoc.aspx?docid=PBS_SF423061.

Moodys describes its loss and cash flow analysis in the section
Ratings Rationale of this press release.

Moodys describes the stress scenarios it has considered for this
rating action in the section Ratings Rationale of this press
release.

For ratings issued on a program, series or category/class of debt,
this announcement provides certain regulatory disclosures in relation
to each rating of a subsequently issued bond or note of the same series
or category/class of debt or pursuant to a program for which the ratings
are derived exclusively from existing ratings in accordance with Moodys
rating practices. For ratings issued on a support provider,
this announcement provides certain regulatory disclosures in relation
to the credit rating action on the support provider and in relation to
each particular credit rating action for securities that derive their
credit ratings from the support providers credit rating.
For provisional ratings, this announcement provides certain regulatory
disclosures in relation to the provisional rating assigned, and
in relation to a definitive rating that may be assigned subsequent to
the final issuance of the debt, in each case where the transaction
structure and terms have not changed prior to the assignment of the definitive
rating in a manner that would have affected the rating. For further
information please see the ratings tab on the issuer/entity page for the
respective issuer on www.moodys.com.

For any affected securities or rated entities receiving direct credit
support from the primary entity(ies) of this credit rating action,
and whose ratings may change as a result of this credit rating action,
the associated regulatory disclosures will be those of the guarantor entity.
Exceptions to this approach exist for the following disclosures,
if applicable to jurisdiction: Ancillary Services, Disclosure
to rated entity, Disclosure from rated entity.

Regulatory disclosures contained in this press release apply to the credit
rating and, if applicable, the related rating outlook or rating
review.

Please see www.moodys.com for any updates on changes to
the lead rating analyst and to the Moodys legal entity that has issued
the rating.

Please see the ratings tab on the issuer/entity page on www.moodys.com
for additional regulatory disclosures for each credit rating.

Andreas Hellmut Botterbusch
Asst Vice President – Analyst
Structured Finance Group
Moodys Deutschland GmbH
An der Welle 5
Frankfurt am Main 60322
Germany
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Thorsten Klotz
MD – Structured Finance
Structured Finance Group
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Releasing Office:
Moodys Deutschland GmbH
An der Welle 5
Frankfurt am Main 60322
Germany
JOURNALISTS: 44 20 7772 5456
SUBSCRIBERS: 44 20 7772 5454

Moodys assigns provisional ratings to eight classes of notes to be issued by Arbour CLO III Limited

Funding Daily: Today’s tech funding news, in one place

Here’s a list of today’s tech funding stories, updated as the day unfolds. Tip us here if you have a deal to share.

Norwest Venture Partners raises $1.2 billion for its 13th fund

Norwest Venture Partners announced that it has raised $1.2 billion for its 13th fund, which it’ll use to support its sector and stage independent investment strategy. With this fund, the firm now has a total capital and commitment size of more than $6 billion.

This is the third consecutive $1.2 billion fund that Norwest has raised. The firm has made investments in companies like Blue Jeans Network, Casper Sleep, Honybook, IFTTT, Jet, Lumosity, Modcloth, Spotify, Uber, and Udemy. Norwest said that in the past 18 months, its portfolio has seen seven public offerings in the United States, India, and Israel, and 15 acquisitions.

Read more

Deezer raises $110M to keep pace in music streaming wars with Apple and Spotify

Three months after Deezer’s scrapped IPO raised questions about its future, the Paris-based music streaming company announced it had raised $110 million in a critical vote of confidence from its partners.

“We can see that we are still at the beginning of a very fast-growing market,” said Deezer CEO Hans-Holger Albrecht. “We want to capture that growth and momentum.”

Albrecht joined the company in early 2015, coming aboard just in time to experience a transformative year for music streaming.

Read more

FreedomPop raises $50 million to take its free mobile SIM plans global

FreedomPop, a wireless Internet provider whose SIM cards include free basic mobile service plans, has raised a fresh $50 million in capital, taking its total funding to almost $110 million.

Founded out of Los Angeles in 2011, FreedomPop has built its mobile offering around giving away free mobile data, text messages, and talk time, in the hope that those who require more than the bundled allowance will pay to upgrade. The company has largely operated in the US since its inception, though it made its first foray into international territories with a UK launch back in September.

Read more

Kumu Networks snags $25 million led by Cisco, Verizon Ventures

Cisco and Verizon Ventures led a $25 million investment for Kumu Networks, the startup announced today. Deutsche Telekom and Swisscom also participated in the series C round.

To date, Kumu Networks has raised at least $45 million.

Read more

Hospitality app Alice welcomes $9.5 million round led by Expedia

Alice, a hospitality app that says to connect hotel teams with their guests’ requests, announced yesterday that it took in a $9.5 million investment led by Expedia.

The New York-based startup has the Gansevoort Hotel Group and The Setai Miami Beach, Viceroy and Dorint Hotels in its portfolio.

Laconia, 645 Ventures, and Neuehouse founders also participate in the round that sets Alice at $13 million in funding.

More: Alice

Magic Johnson, Andreessen Horowitz lead $3.25M round for diverse recruitment platform Jopwell

New York-based startup Jopwell announced today that it closed a $3.35 million seed round to help build its recruitment and hiring platform, which aims to increase diversity in the workforce.

Backed by Magic Johnson Enterprises and Andreessen Horowitz, Jopwell wants to give members of minority groups a boost in the job application process. Once users complete 60 percent of their profile, they get access to job postings in Jopwell’s partnered companies. After they apply for a position, Jopwell serves as an intermediary by highlighting the applicant’s profile.

Read more

This list will be updated with breaking funding news all day. Check back for more.

EZCORP Inc (EZPW) Raised to Hold at Zacks Investment Research

A number of institutional investors recently made changes to their positions in EZPW. IMS Capital Management raised its position in shares of EZCORP by 1.3% in the fourth quarter. IMS Capital Management now owns 274,956 shares of the companys stock worth $1,372,000 after buying an additional 3,615 shares during the period. Acadian Asset Management bought a new position in shares of EZCORP during the fourth quarter worth about $1,134,000. Capstone Asset Management Company raised its position in shares of EZCORP by 77.8% in the fourth quarter. Capstone Asset Management Company now owns 64,863 shares of the companys stock worth $324,000 after buying an additional 28,380 shares during the period. Finally, KBC Group raised its position in shares of EZCORP by 100.5% in the third quarter. KBC Group now owns 37,374 shares of the companys stock worth $231,000 after buying an additional 18,732 shares during the period.

EZCORP (NASDAQ:EZPW) opened at 3.07 on Wednesday. EZCORP has a 52-week low of $2.93 and a 52-week high of $12.35. The companys market capitalization is $168.35 million. The stock has a 50 day moving average of $4.72 and a 200-day moving average of $5.93.

EZCORP, Inc. is engaged in delivering instant cash solutions to customers across channels, products, services and markets. The Company offers customers multiple ways to access instant cash through approximately 1,400 locations and branches across the United States, Mexico, Canada and the United Kingdom. Products are offered through four primary channels: in-store, online, worksite and through a mobile platform. It provides a variety of instant cash solutions, including collateralized, non-recourse loans, known as pawn loans, and a variety of short-term consumer loans, including single-payment and multiple-payment unsecured loans and single-payment and multiple payment auto title loans. In some United States locations (NASDAQ:EZPW), the Company does not offer loan products themselves, but rather offer credit services to help customers obtain loans from independent third-party lenders.