Pagaya Announces ~$800M ABS With $3.9B Raised This Year
Portfolio Pulse from Benzinga Newsdesk
Pagaya has announced an asset-backed security (ABS) worth approximately $800 million, bringing its total raised this year to $3.9 billion. This is the first PAID transaction to achieve an AA-rating. To date, Pagaya has raised over $17 billion in ABS funding, making it the leading issuer of personal loan ABS transactions in the U.S.
July 20, 2023 | 12:40 pm
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POSITIVE IMPACT
Pagaya's announcement of an $800M ABS and a total of $3.9B raised this year could potentially boost investor confidence in the company. The achievement of an AA-rating for the first PAID transaction further strengthens its position.
The announcement of a significant ABS and the achievement of an AA-rating for the first PAID transaction could potentially increase investor confidence in Pagaya. This, in turn, could have a positive impact on the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100