The prepayment rates for ABS backed by Property Assessed Clean Energy programs are on the rise which can have mixed effects on the notes, warned Morningstar Credit Ratings in a new report. The monthly annualized conditional prepayment rates averages for residential PACE ABS rated by Morningstar have been increasing from “single digits to high teens” since 2016, said the credit rating service. “Investors should pay attention to prepayment rates because they can have ...