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US leveraged loan defaults will stay low for some time, says Fitch
9 years ago
The US leveraged loan default rate is on track to end the year at 2%, according to a report from Fitch Ratings. The rating agency estimates that next year will be stable with default rates in the region of 2% -
Moody's highlights low recoveries in energy credit catastrophe
9 years ago
Recovery rates for lenders to oil and gas companies were “catastrophic” in 2015, according to a report published yesterday by Moody’s. -
BNP Paribas AM euro CLO makes history by triggering event of default
9 years ago
A 2004 vintage CLO managed by BNP Paribas Asset Management has hit an event of default, according to a notice available on CLO-i -
Three 2.0 CLOs placed on negative watch by S&P as defaults rise
9 years ago
Standard & Poor’s has placed three US CLO 2.0 tranches on negative watch in the last week, citing weakening credit quality and declining spreads in the deals’ underlying portfolios -
Energy credits account for 49% of problem loans, reports Fitch
9 years ago
Energy companies are still overrepresented in the list of near-term default risks, according to research published yesterday by Fitch Ratings. -
Puerto Rico CDS settles with little open interest
9 years ago
CDS auction brings settlement of 58 cents on the dollar for defaulted island -
Energy-heavy CLOs set for more pain as oil defaults edge towards 18%
9 years ago
Continued weakness in the oil and gas markets will likely cause two more energy-related defaults in August, according to an announcement from Fitch Ratings -
CDS holders voice suspicions over bankruptcy timing as Oi talks resume
9 years ago
Isda's credit determinations committee meets for third time to determine timing of Oi's default timing -
Manager's legacy CLOs suffer downgrades despite strong equity returns
9 years ago
Mezzanine tranches from two US CLOs have been downgraded, but the pre-crisis deals are still making strong equity distributions -
CLO managers take a hit on Southcross
9 years ago
CLO-i data shows that several managers have taken a hit from their exposure to Southcross Holdings -
CLO investors sweep into options to clean up grimy loan portfolios
9 years ago
CLO investors are heading to the options market in droves in order to keep their portfolios clean -
Points up front: beware Thursdays
9 years ago
Investors in UK peer-to-peer lending platform Funding Circle are learning the harsh realities of credit risk -
CLO manager makes whopping $32.8 million quarterly equity distribution
9 years ago
Working out is good for you: a CLO manager has made equity-like returns thanks to two defaulted loans -
Southcross bankruptcy puts further pressure on CLO coverage ratios
9 years ago
Some CLOs are expected to take a sizeable hit after Southcross Holdings became the latest energy-related name to file for bankruptcy yesterday -
CLOs set to be poisoned as Peabody's canary goes belly up
9 years ago
In this metaphor, the canary is Peabody's 2022 second lien loan. -
Valeant goes in search of a remedy with loans in danger of covenant breach
9 years ago
Painkillers won't do - large loan issuer Valeant Pharmaceuticals is going to need something stronger as it looks to stave off a possible default -
Retail investors feel the pain as German mid-market defaults soar
9 years ago
The collapse of one of the biggest borrowers in Germany's smaller company bond market has cast doubt on the future of the €10 billion mittelstand bond market -
Isda rules against Novo Banco succession event
9 years ago
Isda's determinations committee decides that Novo Banco move was no succession -
Verso default triggers CLO 2.0 market's first OC breach
9 years ago
A 2013 CLO US CLO has become the first post-crisis deal to trip an overcollateralisation test, according to CLO-i -
Par building may not be enough to cure CLO test breaches, finds Nomura
9 years ago
Par building by CLO managers may not be enough to stave off the impact of recent defaults on overcollateralization test buffers, according to a research note from Nomura -
Energy sector default rate rises to 9%, finds Fitch
9 years ago
12 month trailing default rate up to 9% for energy names, says rating agency. At the end of January this figure stood at 7%. -
Loan sell-off not justified by fundamentals, says Highland's Okada
9 years ago
“We're in an environment where investors are far more distressed than their investments,” said Okada at a round table event last week -
Loan holders hit out at Paragon bankruptcy plan
9 years ago
Holders of Paragon Offshore term loans, which are widely held by CLOs, have vehemently opposed the company's bankruptcy plans, according to a report by Debtwire -
1999-style default party could hit CLO triple Bs, says Citi
9 years ago
Low prices mean that CLO mezzanine should make double-digit returns even under scenarios that cause a cashflow interruption -
CLOs stand to gain from Paragon restructuring
9 years ago
Around 8% of CLOs own Paragon Offshore term loans, according to CLO-i
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