DOI: 10.5176/2251-1997_AF-82
Authors: Prof. Prantik Ray
Abstract:
Microfinance Securitization has been growing very fast in emerging countries like India. However, is observed that the rating of the securitized products does not capture the full risks that are hidden within the structure. Originator substitution risk isone such example. This phenomenon has been corroborated by the sudden increase in the credit enhancement required in some recent MFI securitization issues.
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