March 14, 2008 at 05:02 PM
Despite buyers’ new skepticism about asset-backed securities, J.G. Wentworth & Company Inc. has just finished raising $111 million by selling notes backed by annuities and structured settlements.
The securitization is the 17th that J.G. Wentworth, Bryn Mawr, Pa., has completed since 1997.
The recent wave of credit market turbulence has caused investors to make more of an effort to perform their own analyses of asset risk, J.G. Wentworth Chief Executive Officer Michael Goodman says in a statement about the offering.
Investors like the fact that J.G. Wentworth has life insurers with strong credit ratings backing its securities, Goodman says.
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