In our position as a disinterested, third-party source of CDO evaluations, PF2 aims to provide the consistency, reliability and communication that market participants seek amid challenging economic conditions.
PF2 offers its services to pension funds, insurance companies, investment managers, special purpose vehicles and other market participants who seek an unbiased opinion on the value of their securities, or an extra eye on their portfolio and its inherent risks, be they credit-related or document-driven.
Our evaluations benefit from the high priority we afford to quantitative analysis, by regularly adapting our modeling assumptions to reflect current market developments and changing economic conditions. Thus, our evaluations rely heavily on market observables, and feedback received from our clients and other market professionals.
Each evaluation also reflects qualitative assessments including, for example, our opinion of collateral manager quality, our interpretation of ambiguous document terms and our view of asset management trends.
PF2's evaluations draw upon several key sources of expertise:
- our experience analyzing structured finance securities, especially structuring, rating and investing in CDOs;
- our direct access to key market participants and to intelligence about market developments and the latest supply and trading levels;
- our surveillance of market research regarding both structured finance securities and the underlying assets securing them; and
- our knowledge of how structural developments in CDOs over time have affected CDO performance.
