Moody's downgrades tranche from reissued 2018 CLO to triple C citing par loss
Moody's has downgraded a tranche of a CLO reissued in 2018 to triple C, the rating agency said in an announcement

Class F notes of 2018 CLO downgraded to triple C by Moody's
Moody’s has downgraded the class F notes of a 2018 CLO to Caa1, citing par loss in the underlying portfolio for its decision

CLOs face losses as Constellis loan drops to 28.5
32 CLO managers hold $640.4 million of Constellis Holdings’ debt, which Moody's downgraded to C after the company missed an amortisation payment due 31 December

US CLO tranche downgraded to Caa3 amid OC and warf test failure
A $5 million tranche of a 2014-vintage CLO has been downgraded to Caa3 by Moody’s

Deluxe decline leaves CLOs feeling deflated

Euro loan trading: CLOs hang up on top speed-dial contact
Telco Altice, the most prevalent holding for European CLOs, became the most sold issuer of the month, but ION Corporates was the most popular 

US loan trading: CLO managers flee Acosta but gorge on Buckeye
Loan holdings in October gave CLO managers a taste of the good, the bad and the ugly: they feasted on Buckeye, fled Acosta, and could not get rid of Deluxe   

CLO managers brace themselves for Acosta bankruptcy
CLOs hold $402.5 million exposure to Acosta, a sales and marketing agency that is looking likely to file for Chapter 11 bankruptcy soon. A total of $163.7 million of Acosta’s term loan left the hands of CLOs in 2019

Established firms say managers new to European CLOs will struggle to attract assets
New managers making their way in the European CLO market may have a fight on their hands, with sources noting the difficulty these firms face in getting sizeable allocations.

Inflows boost structured credit mutual funds
Low rates have seen loan mutual funds battle $42 billion of outflows this year, but structured credit funds have been able to grow while capitalising on this volatility, according to sources.

CBOs aren’t fixated on interest rate moves
The loan sell off at the start of this year highlighted that CBOs are not a play on interest rates or bond prices — they’re taking advantage of the flexibility to rotate between loans and bonds

Few CLOs charred by Murray bankruptcy
25 CLO managers hold  $389.6 million exposure to the debt of coal company Murray Energy Holdings, which filed for Chapter 11 bankruptcy in the Southern District of Ohio on Tuesday, according to the latest trustee reports from CLO-i   

CLOs' risk to Japanese banks 'subdued' despite ratings and mark-to-market risk, says Bank of Japan
The risk to Japanese banks posed by their investments in CLOs is ‘subdued’, according to the Bank of Japan Financial System Report

US CLO's anchor equity on sale for first time
The 23^rd anchor equity position in a US CLO has been listed on the secondary market today, with $36.875 million of Anchorage Capital 6,up for sale at 1.30pm New York time.

Kroll fires back at ‘factual errors’ in WSJ CLO rating report
Kroll Bond Rating Agency has hit back at the Wall Street Journal article that suggested the firm gives higher ratings to CLOs than its competitors

Deluxe bankruptcy causes picture to blur for CLOs
CLO managers hold $598 million of the video services company’s term loan, according to the latest trustee reports from CLO-i

Bardin Hill CLO double B tranche downgraded to Caa1 by Moody's
Moody’s has downgraded the class E notes of Bardin Hill’s CLO, Halcyon Loan Advisors Funding 2013-2, to Caa1, the agency has announced

Loan shocks give 2018 warehouses yet another scare
The recent sell-off in loans could be an unwelcome development for long-dated CLO warehouses, which may have thought they were over the worst after a testing Q1. 

One day, two investors, three CLO controlling stakes in secondary
Two investors are inviting bids for anchor positions they hold in three CLOs.

Carlyle CLO warehouse investment results in 26.7% return for South Korean firm
A CLO warehouse investment in a transaction managed by Carlyle Group has generated a $1.3 million return for Seoul-based Tiger Alternative Investors, according to a report in The Korea Economic Daily

CLO managers suffer puncture with $85 million of Jack Cooper debt
CLO managers hold $85.8 million of exposure to auto hauler Jack Cooper Ventures, which filed for Chapter 11 bankruptcy, according to the latest trustee reports from CLO-i 

US CLOs thrive as managers embrace secondary loan market
Leveraged loan issuance is supposed to feed and keep CLOs healthy, but a 62% slowdown in US loan volumes this year was accompanied by average CLO equity distributions ticking 19% higher.

Philadelphia Energy bankruptcy tars nine CLO managers with $241 million exposure
The Philadelphia-headquartered company has entered into bankruptcy protection for a second time, having only emerged from its first filing in August