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One of China’s hottest companies rebuffs criticism about transparency

“In this case, Ant Financial lends money to Alipay users and then packages those debts into asset-backed securities for sale to investors” writes Anthony Kwan for Asset-backed securities are financial instruments that are backed by underlying loans and other receivables. According to news reports, Moody’s Investors Service previously said that companies like Ant Financial needed to be more transparent about how such asset-backed securities are created — including their criteria for lending to underlying borrowers.”The demand for these securities is very healthy and continuing to expand,” Douglas Feagin, senior vice president and head of global business at Ant Financial, told CNBC’s “Street Signs.”.

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