OC health check: CLOs heal up with no new breaches among US BSL deals
53 CLOs reported an over-collateralisation (OC) test breach last week, but only two CLOs breached an OC test for the first time, neither of which were US broadly syndicated loan CLOs

It’s all going to plan
Whether managers are relaxed because they can make up losses later, or are putting more money into their deals, panellists on the Creditflux West webinar weren’t panicking about OC breaches

Time catches up with middle market CLOs as Moody's takes rating action
Moody's has taken rating action on nine middle market CLO tranches by putting them on review for possible downgrade, the agency said in a statement

Rockford Tower CLO fails to meet effective date requirements
A 2019 CLO managed by Rockford Tower Capital Management has failed to meet requirements relating to its effective date on 22 June due to breaching its Moody's weighted average rating factor test

75% of US CLO warehouses 'avoided crisis situations', finds Maples
Just a quarter of US CLO warehouses administered by Maples Group were required to take remedial action, or seek amendments, since the start of the coronavirus pandemic, according to a report by the firm

HPS CLO warehouse hit by downgrade as it reaches 8.34% triple C assets
CLO warehouses have been hit with an increasing number of triple C assets in their portfolio. And those in one CLO warehouse managed by HPS increased from 0.5% in March to 8.34% by May

OC health check: slowing of downgrades offers some reprieve for CLOs stuck in breach
89 deals reported overcollateralisation breaches last week, but only seven of these deals were breaching any OC test for the first time, according to the latest reports available on CLO-i

Insurers' CLO triple A and double A investments can survive most severe stress tests, report finds
A stress test performed on US insurers' CLO investments, as of December, shows that even under the most severe coronavirus default and recovery assumptions, double A and triple A-rated tranches are protected against principal losses

Moody's downgrades five tranches from three Carlyle-managed CLOs
The rating agency took action on the ER tranche of Carlyle's 2015-3 CLO, the CR and DR tranches of its 2015-4 CLO, and the CR and DR notes of its 2016-4 deal

Moody's downgrades three tranches of 2017 vintage European CLO
Moody's has downgraded three tranches of a 2017 vintage CLO managed by Bardin Hill

Ares 2016 US CLO suffers downgrades to three tranches
Moody’s has downgraded three debt ranches from Ares XL CLO, a 2016 US CLO which is passing its par value tests

Moody's downgrades first CLO tranche from Caa3 to Ca
Moody's has downgraded three tranches of Halcyon Loan Advisors Funding 2014-1, with the class F notes rating dropping from Caa3 to Ca, the rating agency announced today

Light at end of tunnel as S&P puts two loan issuers on creditwatch positive
Panellists at IMN's CLO and leveraged loan webinar were optimistic about the future of their markets as S&P makes first positive rating action on leveraged loan issuers since the pandemic outbreak

Moody's downgrades one tranche of 2018 European CLO
Moody’s downgraded the class D tranche of a 2018 vintage CLO managed by Man GLG 

Beneath the triple C: downgrade rate slows as $8 billion of CLO loans tumble
May offered some respite to CLO portfolios as corporate downgrades to triple C were reduced heavily - affecting just $6.67 billion of US CLO paper and €1.09 billion of European CLO portfolios

Cashflowing 2018 CLO looks to issue class X notes
A 2018 US CLO, with low financing costs and a 5.18% junior OC cushion, is looking to issue more debt in the form of class X notes

OC health check: second European 2.0 CLO reports junior OC breach
33 deals reported overcollateralisation (OC) breaches last week in a relatively quiet reporting period.  314 deals are now reporting OC breaches as of the latest report, according to CLO-i.

CIFC CLO funds outperform after using tech to identify tail risks
CIFC Asset Management has been using technology to its advantage as two of its CLO funds were in the top 10 of our credit hedge fund return tables in April

Moody's puts 241 CLO tranches on downgrade review including five rated Caa3
Moody's has added another 241 US CLO tranches to its list of reviews for possible downgrade, the agency has announced

Moody's adds 234 European CLO tranches to downgrade review list
Moody's has put 234 European CLO tranches on review for downgrade, citing the economic shock resulting from the coronavirus pandemic in its decision

Dishware maker files for bankruptcy as CLOs hold $200 million
CLOs hold $207.58 million of Libbey Glass, which filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware on Monday, as a result of the firm's impending debt maturities and the impact of coronavirus

CLO double Bs go on late night b-wic as spreads tighten sharply
Investors are piling into junior US CLO tranches as traders begin to see economic recovery following the pandemic

Euro CLO investors look to cash in as market confidence returns
A mixed b-wic comprised of €35 million European CLO tranches is on offer at 9.30am New York time Tuesday, with investors looking to capitalise on tightening spreads as confidence gradually returns to the market

Fitch takes action on eight European CLO tranches
Fitch Ratings has revised to negative the outlook on six sub-investment grade tranches from three European CLOs, placed one triple B rated tranche on negative rating watch and downgraded its double B-rated tranche