Moody’s Analytics Technology to Support NextGear Capital Structured Finance Issuance
April 04 2017 - 8:30AM
Business Wire
The Moody’s Analytics ABS System securitization issuance
platform has been selected by NextGear Capital (NextGear), one of
the foremost providers of lending products for vehicle dealers and
auctions in the US and Canada.
ABS System, which automates reporting and greatly enhances
internal controls, is the leading platform for the administration
of an issuer’s structured finance transactions. NextGear will use
it for collateral calculations, accounting, cash management and
investor reporting.
“We are pleased to support NextGear’s securitization activities
and provide the firm with the infrastructure it needs to execute on
its more than $20 billion in annual funding to auto dealers,” said
Marc Levine, Senior Director, Moody’s Analytics. “Our ABS System
will bring NextGear a best-in-class securitization administration
system, with the controls and automation to implement its
structured funding strategy effectively.”
“Moody’s Analytics has experience with issuers in the auto
industry, which was instrumental in our choice to work with them,”
said Dave Horan, Chief Financial Officer at NextGear Capital.
“Their willingness and ability to understand our business and
address our requirements will help drive NextGear’s continued
success.”
In addition to ABS System, Moody’s Analytics provides issuers,
investors, and other structured finance market participants with a
full suite of solutions, including the Moody's Analytics Structured
Finance Portal, which offers advanced cash flow analytics,
benchmarking, credit modeling, and an extensive loan-level
database.
Click here to learn more about the Moody’s Analytics ABS
System.
About Moody’s Analytics
Moody’s Analytics helps capital markets and risk management
professionals worldwide respond to an evolving marketplace with
confidence. The company offers unique tools and best practices for
measuring and managing risk through expertise and experience in
credit analysis, economic research, and financial risk management.
By providing leading-edge software, advisory services, and
research, including the proprietary analysis of Moody’s Investors
Service, Moody’s Analytics integrates and customizes its offerings
to address specific business challenges. Moody's Analytics is a
subsidiary of Moody's Corporation (NYSE: MCO), which reported
revenue of $3.6 billion in 2016, employs approximately 10,600
people worldwide and maintains a presence in 36 countries. Further
information is available at moodysanalytics.com.
About NextGear Capital
NextGear Capital is the largest independent inventory finance
company in North America, providing flexible lines of credit for
dealers to purchase new and used inventory at over 1,000 auto and
specialty auctions and other inventory sources throughout the
United States, Canada, United Kingdom and Ireland. The company’s
products and services allow dealers to floor plan nearly any type
of remarketed unit in automotive retail, wholesale, salvage or
specialty, including recreational vehicles and trailers, marine,
power sports, used heavy trucks, auto salvage and auto daily
rentals. With a customer base of more than 20,000 dealers, NextGear
Capital also provides a robust array of services and support that
allow dealers to acquire and sell more inventory, including
state-of-the-art online and mobile account management tools, title
services, records management and collateral protection. The company
is headquartered in Carmel, Indiana and is part of the Cox
Automotive group of companies, which includes Autotrader, Kelley
Blue Book, Manheim and vAuto. Visit nextgearcapital.com to learn
more.
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version on businesswire.com: http://www.businesswire.com/news/home/20170404005120/en/
Moody’s AnalyticsKATERINA SOUMILOVA, 001.212.553.1177Assistant
Vice-President,Corporate
Communicationskaterina.soumilova@moodys.commoodysanalytics.comtwitter.com/moodysanalyticslinkedin.com/company/moody’s-analytics
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