"Rocket Science" Keeps Structured Finance Honest
R&R Consulting celebrates the power of mathematics in structured finance with the relaunch of its website.
New York, NY (PRWEB via PR Web
Direct) May 17, 2005 -- R&R Consulting, a New York City structured
finance credit metrics firm, celebrates the power of mathematics in structured
finance with the relaunch of its website, www.creditspectrum.com.
"You don't have to have a Ph.D. in engineering to understand what we do," says
Sylvain Raynes, one of R&R's partners, who has a doctorate in aerospace
engineering from Princeton. "But, you do have to be serious about the science of
finance."
R&R uses heavy-duty modeling techniques taken from
engineering to analyze the credit quality of non-recourse debt obligations
backed by pools of receivables, like credit cards, residential mortgages,
automobile loans, equipment leases, or even corporate debt, known as structured
securities. As the borrowers repay their obligations, their cash flows become
the sole source of repayment to the bond investors.
In the words of Ann
Rutledge, also an R&R partner, "There's only one set of tools you can use to
predict how these pools will tend to behave over time. And that's
mathematics—mathematics and statistics. You can't have an honest understanding
of risk and return on structured securities without these tools."
To
develop that understanding, R&R's newly redesigned website introduces
clients and prospective clients to the breadth of the firm's structured finance
capabilities. Current mandates range from a film-finance securitization designed
to help finance independent and established film-makers, to ABS*TRAK software
that performs ongoing auditing of asset-backed securities (ABS).
In
addition to their consulting work, Raynes and Rutledge teach advanced finance
courses at universities like City University of New York's Baruch College; the
University of California, Irvine; and, in a reflection of Rutledge's years of
finance experience in Hong Kong, the Hong Kong University of Science and
Technology (HKUST).
R&R's creditspectrum site is intended as a home
for Raynes' and Rutledge's students as well as for their clients. "Structured
finance is not taught at any depth in most universities, even in financial
engineering programs," says Raynes. "Practitioners come to our classes, or read
our book"—"The Analysis of Structured Securities," published by Oxford
University Press in 2003—"and literally feel joy that a whole world is opening
up to them."
For further information: contact Ann Rutledge, or see the
R&R Consulting website at www.creditspectrum.com.
About R&R
Consulting
Sylvain Raynes and Ann Rutledge each have fifteen years experience
managing structured risk. They first worked together in the Structured Finance
Group of Moody's Investors Service. In early 2000, they formed R&R
Consulting, a New York-based partnership specializing in credit metrics and
consultancy for the structured finance market. They are co-authors of "The
Analysis of Structured Securities" (ISBN 0195152735), published by Oxford
University Press.
Contact:
Ann Rutledge
R&R
Consulting
212-867-5693
www.creditspectrum.com
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Source : http://www.prweb.com/releases/2005/5/prweb241550.htm