Debtwire 2011 securitisation - from italy - corporates too cmbs - restructurings


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Some statements concerning distressed situations in Europe regarding:
Euro-zone with Italy and Greece
Financial restructurings and restructurings in operations
CMBS, ABS and Asset-Management
DocRating and Draftcheck as active Risk-management

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Debtwire 2011 securitisation - from italy - corporates too cmbs - restructurings

  1. 1. Distressed & Restructurings - what does it need ?I participated as a speaker in the DebtWire Forum 2011 and we virtually discussedrefinancing problems of EMEA, Euro and Italy, Corporates, ABS and CMBSstructures concerning residential properties.The new rating of Italy by Standard & Poors from A+ to A and consequently thefollowing risks for all Europe, will effect the rating of Italian banks as well.According to this seminars speakers the reason for this downgrade is the stagnationof the Italian economic growth since 1993.Concerning corporate restructurings I liked the statement of a German Bankerresponsible for Corporate Intensive Care: "We should envision both sides ofrestructuring: "The financial and the operational side - financial restructuringswithout changing the operational side will not help the company in the long run.
  2. 2. Distressed & Restructurings - what does it need ?Being personally involved in Italy, I have to admit, that the bureaucracyis complex and each procedure related to the government is complicated. - Often, facing the public administration, the usere, find situations in which theduration and outcome are uncertain. procedures and rules or rules are not effectiveand efficient.From the German point of view I welcome the patience of Italians concerning wastingtime in ...waiting......for the public administration.Simple example:Instead of offering a well structured daily court agenda, all parties involved in thatdays cases, have to appear at 8:am to discuss their timeslot...My conclusion:Operations restructuring often, are a must, to solve future problems and toachieve success - even as a government / state.Concerning the Real Estate CMBS structures in Germany, we find a situation, thatrefinancing the next two years is a must (maturity). Asset management for residentialMFH homes has improved so much in the past 2 years that consequently, even ifa refinancing is due - financial institutions will prolongue and strech financing!This is the opinion of the Panel. ( Interesting concerning Basel III regulation -Equity requirements ).Now...are you satisfied with the outcome of this conference?Not completely?We stronlgly believe that the participants ( financial institutions / Europe ) shouldimprove their Risk-Management by integrating not only bond values, but underlyingAsset-data - concerning performance, value and prospective value as well. Theserequirements include structured situations or direct loans.Real-Estate industry needs new standards, which will be defined within the nextcouple of years ( see OSCRE - Open Standards Consortium for Real Estate ) andthe integration of all components in a flexible datawarehouseCONact is answering this question for mortgage loans or generally for RealEstates with our new consulting service "Draft Check". Draft Check is a primarystage of a DD (Due Diligence) and part of our "Cash Flow Sync" solution. DraftCheck gives you fast and accurate information on the value and the DocRating ofReal Estate portfolios.Doc Rating is a Rating regarding quality, integrity and being up-to-date on allrelevant information and files regarding a single Real-Estate or a portfolio. It alsoshows deficits and specifics of the engagements that should be evaluated during afuture due diligence.
  3. 3. Distressed & Restructurings - what does it need ?My recommendation:Only with a good DocRating a Bank / Fund is able to define Pricing and a solidExit - strategy !My experience:Most of Banks / Funds have an ordinary or even defective DocRatingconcerning their assets - and what is worse, they don`t realize thisExample graph of "Draftcheck-Solution" Are you interested in Draft Check, DocRating or generally on our Consulting andInterim Services? Comments and feebacks are appreciated - eMail. CONact is a member of RealEstateInnovation - European companies in the Real-Estate Industry ________________________________________________________ More presentations and videos here: Slideshare.netCONact Our newest videos: Why do we do MBS structures Performing Evolution of human these videos ? & Non Performing Trading – Rating Transparence