This paper addresses a core feature of the debt capital markets in general and securitisation transactions in particular; the creation of debt claims with different ranking and priority (also referred to as “tranching”).The primary purpose of the study is to develop an understanding of the...

The objective of this paper is to identify current problems and propose legal and regulatory reforms to Colombia's securitisation framework that would enhance efficiency, mitigate risks and allow the development of innovative types of securitisations. To reach that, an analysis of the...

We examine whether rating shopping and rating catering behaviours, two sources of credit rating inflation, are still prevalent in the post-Global Financial Crisis (GFC) period after the introduction of new regulations regarding Credit Rating Agencies (CRAs) in the European securitisation market....