ABCP Portfolio Data:
Concord Minutemen Capital Co. LLC
(As Of July 2014)
Primary Credit Analyst:
Radhika Kalra, New York (1) 212-438-2143; [email protected]
Surveillance Credit Analyst:
Thomas G Dunn, New York (1) 212-438-1623; [email protected]
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ABCP Portfolio Data:
Concord Minutemen Capital Co. LLC (As Of July
2014)
The conduit administrator has provided portfolio data as part of Standard & Poor's Ratings Services' ABCP conduit
surveillance process. The data for all ABCP programs is presented in a standardized format. For descriptions of
abbreviated terms, please refer to the ABCP Table Definitions table at the end of this article.
1. Conduit Profile
Description
Conduit information
Conduit name
Concord Minutemen Capital Co. LLC
Conduit type
Multi-Seller
Support type*
Full
Initial rating date
11-Feb-98
Sponsor
Guggenheim Treasury Services, LLC
Administrator
Guggenheim Treasury Services, LLC
Aggregate financing commitment (mil. $)
US$5,350
ABCP outstandings (mil. $)
US$3,916
Initial ABCP rating
A-1 (sf)
Current ABCP rating
A-1 (sf)
Portfolio data report date
Jul-14
Reported PWCE (mil. $)
US$0
*Represents whether the program is "fully credit enhanced" or "partially credit enhanced"
2. Conduit Overview
Jul-2014 Jun-2014 May-2014 Apr-2014 Mar-2014 Feb-2014
No. of transactions
USCP (mil. $)
ECP (mil. $)
BT (mil. $)
54
52
48
52
52
52
3,916
4,065
4,280
4,291
4,460
4,455
0
0
0
0
0
0
0
0
0
0
0
0
Total ABCP outstandings (mil. $)
3,916
4,065
4,280
4,291
4,460
4,455
Aggregate financing commitment (mil. $)
5,350
4,847
5,190
6,187
7,356
7,950
73.2
83.9
82.5
69.4
60.6
56
Capacity utilization (%)
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ABCP Portfolio Data: Concord Minutemen Capital Co. LLC (As Of July 2014)
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ABCP Portfolio Data: Concord Minutemen Capital Co. LLC (As Of July 2014)
3. Conduit-Level Credit Support
Jul-2014 Jun-2014 May-2014 Apr-2014 Mar-2014 Feb-2014
ABCP outstanding (mil. $)
3,916.0
4,065.0
4,280.0
4,291.0
4,460.0
4,455.0
4. Rating-Dependent Support Provider As Of July 2014
The most recent list of rating-dependent support providers for this conduit can be found within the "Participants" tab under the "Conduit Profile"
on Global Credit Portal
5. Collateral Concentration As Of July 2014
Collateral type
Invested amount (mil. $) % of total invested amount
Commercial Loans
1,873
76.7
Cash
1,477
60.5
Auto Loans
1,435
58.8
Commercial Real Estate
667
27.3
Student Loans
439
18
Commercial Leases
290
11.9
Consumer Loans
267
10.9
Equipment Leases
220
9
93
3.8
Aircraft Leases
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ABCP Portfolio Data: Concord Minutemen Capital Co. LLC (As Of July 2014)
5. Collateral Concentration As Of July 2014 (cont.)
Commercial Mortgage Loans
39
1.6
Auto Leases
23
1
Dealer Floorplan
5
0.2
Residential Mortgage Loans
0
0
6,827
279.8
Total
6. Portfolio Concentration Trends
Jul-2014 Jun-2014 May-2014 Apr-2014 Mar-2014
Feb-2014
Total invested amount
6,827
6,621
6,796
7,304
8,386
8,395
Largest transaction invested amount (mil. $)
1,477
1,774
1,286
1,117
1,030
905
Largest transaction collateral type
Cash
Cash
Cash
Cash
Cash Commercial Loans
60.5
77.4
48
35.2
Top three transactions as % of total invested amount
107.3
127.2
90.7
Top five transactions as % of total invested amount
141.8
163.3
121.0
Largest transaction as % of total invested amount
30
22.6
71.0
76.6
55.9
101.4
107.0
81.9
7. Top Five Transactions By Invested Amount As Of July 2014
Collateral type
Invested amount (mil. $) % of total invested amount
Cash
1,477
60.5
Commercial Loans
571
23.4
Commercial Loans
571
23.4
Commercial Loans
445
18.2
Auto Loans
Total
397
16.3
3,461
141.8
8. Portfolio Activity Year-To-Date 2014
Collateral type
Financing limit (mil. $) Invested amount at entry date (mil. $) Entry/exit date
Transactions entering
Auto Loans
0
0 Jan 2014
Auto Loans
257
257 Jan 2014
Auto Loans
0
0 Jan 2014
Auto Loans
116
116 Jan 2014
Auto Loans
0
0 Jan 2014
Auto Loans
270
270 Jan 2014
Student Loans
298
298 Jan 2014
Cash
291 Jan 2014
Cash
403 Feb 2014
Dealer Floorplan
2
Cash
2 Mar 2014
320 May 2014
Consumer Loans
0
0 Jun 2014
Consumer Loans
0
0 Jun 2014
Student Loans
0
0 Jun 2014
Commercial Loans
0
0 Jun 2014
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ABCP Portfolio Data: Concord Minutemen Capital Co. LLC (As Of July 2014)
8. Portfolio Activity Year-To-Date 2014 (cont.)
Consumer Loans
Commercial Real Estate
Equipment Leases
14
14 Jun 2014
138
138 Jun 2014
30
30 Jun 2014
Commercial Real Estate
105
105 Jul 2014
Auto Loans
226
226 Jul 2014
Total
1,456
2,470
Transactions exiting
Student Loans
57
N/A Jan 2014
Student Loans
58
N/A Jan 2014
Student Loans
37
N/A Jan 2014
Auto Loans
280
N/A Jan 2014
Auto Loans
250
N/A Jan 2014
Cash
N/A Jan 2014
Cash
N/A Mar 2014
Cbo / Corporate Bonds
Commercial Mortgage Loans
Cbo / Corporate Bonds
CLO
Cbo / Corporate Bonds
Dealer Floorplan Receiv
Student Loans
0
N/A May 2014
10
N/A May 2014
290
N/A May 2014
26
N/A May 2014
290
N/A May 2014
70
N/A Jun 2014
103
N/A Jun 2014
Cash
N/A Jun 2014
Total
Net Change
1,471
N/A
(15)
N/A
*The financing limit is the last recorded amount before exit. The outstanding amount is N/A.
9. Portfolio Composition As Of July 2014
Financing limit (mil. $)
Invested amount (mil.
$)
Utilization (Inv Amount/Fin Limit)
(%)
May 2013
93
93
100
Auto Leases
Aug 2013
23
23
100
Auto Loans
Apr 2012
49
49
100
Auto Loans
Nov 2012
391
391
100
Auto Loans
Dec 2012
0
0
0
Auto Loans
Mar 2013
43
43
100
Auto Loans
Mar 2013
0
0
0
Auto Loans
May 2013
40
40
100
Auto Loans
Jan 2014
0
0
0
Auto Loans
Jan 2014
397
397
100
Auto Loans
Jan 2014
0
0
0
Auto Loans
Jan 2014
0
0
0
Auto Loans
Jan 2014
0
0
0
Auto Loans
Jan 2014
288
288
100
Collateral type
Entry date
Aircraft Leases
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ABCP Portfolio Data: Concord Minutemen Capital Co. LLC (As Of July 2014)
9. Portfolio Composition As Of July 2014 (cont.)
Auto Loans
Jul 2014
Cash
Feb 2014
Commercial Leases
Mar 2013
Commercial Leases
Mar 2013
Commercial Leases
226
226
100
1,477
0
87
87
100
17
17
100
Jun 2013
58
58
100
Commercial Leases
Aug 2013
64
64
100
Commercial Leases
Oct 2013
64
64
100
Commercial Loans
Jun 2009
445
445
100
Commercial Loans
Mar 2010
0
0
0
Commercial Loans
Jun 2009
0
0
0
Commercial Loans
Dec 2011
0
0
0
Commercial Loans
Dec 2011
571
571
100
Commercial Loans
Dec 2011
571
571
100
Commercial Loans
Dec 2011
94
94
100
Commercial Loans
Dec 2011
94
94
100
Commercial Loans
Dec 2011
98
98
100
Commercial Loans
May 2012
0
0
0
Commercial Loans
Jul 2013
0
0
0
Commercial Loans
Jun 2014
0
0
0
Commercial Mortgage Loans
Feb 2013
39
39
100
Commercial Real Estate
Dec 2013
309
309
100
Commercial Real Estate
Dec 2013
113
113
100
Commercial Real Estate
Jun 2014
140
140
100
Commercial Real Estate
Jul 2014
105
105
100
Consumer Loans
Apr 2013
53
53
100
Consumer Loans
Aug 2013
9
9
100
Consumer Loans
Oct 2013
76
76
100
Consumer Loans
Nov 2013
29
29
100
Consumer Loans
Jun 2014
70
70
100
Consumer Loans
Jun 2014
30
30
100
Consumer Loans
Jun 2014
0
0
0
Dealer Floorplan
Mar 2014
5
5
100
Equipment Leases
Sep 2012
100
100
100
Equipment Leases
Sep 2012
73
73
100
Equipment Leases
Aug 2013
18
18
100
Equipment Leases
Jun 2014
29
29
100
Residential Mortgage Loans
Mar 2011
0
0
0
Student Loans
Aug 2013
44
44
100
Student Loans
Jan 2014
387
387
100
Student Loans
Jun 2014
8
8
100
*Includes internal and external credit support
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ABCP Portfolio Data: Concord Minutemen Capital Co. LLC (As Of July 2014)
10. ABCP Table Definitions
Code
Definition
ABCP
Asset-backed commercial paper
BT
Billets de Tresorerie
ECP
European commercial paper
N/A
Not applicable
PWCE
Program-wide credit enhancement
USCP
U.S. commercial paper
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