DBRS Chooses Lewtan's ABSNet(TM) and ABSNet Cash Flows to Support Rapid Expansion of European Ratings Capabilities.WALTHAM, Mass. -- Lewtan Technologies, Inc., provider of asset-backed securities Asset-backed security A security that is collateralized by loans, leases, receivables, or installment contracts on personal property, not real estate. asset-backed security A debt security collateralized by specific assets. surveillance, analytics, and content for the global securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. industry, announced today that rating agency DBRS DBRS Dominion Bond Rating Service will be using Lewtan'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 (Automatic Backup System) See backup program. deals in Europe, which will be instrumental in helping us to quickly expand our European rating services," said 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 Tranche One of several related securities offered at the same time. Tranches from the same offering usually have different risk, reward, and/or maturity characteristics. tranche A class of bonds. 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," said 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. About DBRS DBRS is a recognized, international rating agency, providing timely and comprehensive rating opinions to the world's capital markets. Privately owned and independent, DBRS offers in-depth credit analysis of corporate, financial institutions and government issues in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . DBRS's extensive coverage of structured finance and securitization has solidified so·lid·i·fy v. so·lid·i·fied, so·lid·i·fy·ing, so·lid·i·fies v.tr. 1. To make solid, compact, or hard. 2. To make strong or united. v.intr. its standing as a leading provider of comprehensive, in-depth credit analysis. DBRS is headquartered in Toronto, with offices in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Chicago, London, Frankfurt and Paris, and covers entities worldwide. About Lewtan Lewtan Technologies, Inc. offers a wide range of content- and technology-based solutions to members of the global asset-securitization industry, including issuers, investors, underwriters, servicers, credit enhancers, and rating agencies. More than 300 institutions worldwide rely on Lewtan's intelligence and surveillance solutions, and the company has twice been named Global Technology Provider of the Year by the International Securitisation Report. More information is available at www.lewtan.com. |
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