DBRS Webinar: Non-Performing Loans: Emergence of a New Asset Class

DBRS Ratings Limited (DBRS) invites you to attend a webinar titled, “Non-Performing Loans - Emergence of a New Asset Class” on 12 February 2019 at 10 a.m. EST/3 p.m. GMT/4 p.m. CET. The webinar will be hosted by Gordon Kerr, Head of European Structured Finance Research, in London. Gordon will be joined by Elisabeth Rudman, Managing Director, Head of European Financial Institutions Group; Christian Aufsatz, Managing Director, Head of European Structured Finance; and Alessio Pignataro, Senior Vice President, European ABS. Topics discussed will concentrate on DBRS’s Sovereign, Financial Institutions and Structured Finance teams’ evaluation of performance and outlook for the European non-performing loans (NPL) market in 2019 and beyond. Europe’s banks have made significant progress in reducing the large stock of NPLs accumulated since the financial crisis, but a number of countries whose banks have high levels of NPLs still have a long way to go. DBRS has assigned ratings to 20 European NPL securitisation transactions to date (14 in Italy, four in the Republic of Ireland and two in Portugal) and rated these transactions with its methodology focused on servicer or sponsor expectations of recoveries. With only just over two years since the first publicly rated Italian NPL securitisation transaction was issued, it is still too early to know how these deals are truly performing. However, the data that DBRS has analysed has provided some interesting insights. Please join our analysts to discuss these topics in brief on 12 February. The discussion will last approximately 45 to 60 minutes and will be followed by an interactive question-and-answer session. DBRS welcomes all who wish to participate.