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information that you can find. 1) Individual Paper a. Take the perspective of an investor looking to purchase the senior most (highest rated) and junior

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information that you can find. 1) Individual Paper a. Take the perspective of an investor looking to purchase the senior most (highest rated) and junior most rated bonds (at least one rating that is not NR) at the time of new issue. Describe the collateral that's being securitized. ii. Describe the key collateral strengths and weaknesses. iii. Discuss the securitization structure (waterfall, triggers, etc.) and the credit enhancement available to the two bonds that you are analyzing. iv. Compare and contrast the different rating agency assessments of the riskiness of the bonds (focus on their stress assumptions for the collateral and what losses or declines in performance the two bonds can withstand). Address if you felt a particular rating agency was conservative than others. v. Would you have invested in the 2 bonds at the time of new issue (focus purely on credit risk, assume the yields on the bonds are adequate)? You may recommend only buying one, both, or none of the bonds. Make sure to provide backup to your assessment. b. Now assume that you chose to not purchase the bonds at new issue and are now looking to purchase information that you can find. 1) Individual Paper a. Take the perspective of an investor looking to purchase the senior most (highest rated) and junior most rated bonds (at least one rating that is not NR) at the time of new issue. Describe the collateral that's being securitized. ii. Describe the key collateral strengths and weaknesses. iii. Discuss the securitization structure (waterfall, triggers, etc.) and the credit enhancement available to the two bonds that you are analyzing. iv. Compare and contrast the different rating agency assessments of the riskiness of the bonds (focus on their stress assumptions for the collateral and what losses or declines in performance the two bonds can withstand). Address if you felt a particular rating agency was conservative than others. v. Would you have invested in the 2 bonds at the time of new issue (focus purely on credit risk, assume the yields on the bonds are adequate)? You may recommend only buying one, both, or none of the bonds. Make sure to provide backup to your assessment. b. Now assume that you chose to not purchase the bonds at new issue and are now looking to purchase

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