Moody’s Investors Service reports that performance of Spanish securitization transactions backed by loans to small- and medium-sized enterprises deteriorated in the first quarter, regardless of originator or vintage. Moody’s said serious delinquencies of 90 days to 360 days grew from 1.85% at the end of December to 2.19%, while cumulative defaults surged from 1% to 1.65% from a year earlier, a jump of 64.5%.
