Banks predict steady year ahead
It’s the season for predictions and the CLO market is no exception, with all the banks having their say. We’ve rounded up their forecasts for new issuance and resets in the US and Europe

The wall is coming down
Refis and extensions have greatly reduced the height of the maturity wall looming over European CLOs in the near term — but, further out, WAL test cushions remain critical

What do you think?
The Creditflux CLO Census is back for its seventh instalment. Our annual stock-take of the global CLO industry begins on Monday, 2 October — it’s your chance to make your voice heard

Should I worry about synthetic Libor?
The date on which the ICE Benchmark Administration (IBA) will cease publishing the remaining available tenors of Libor is fast approaching. But initially, publication of all tenors of Libor was supposed to cease on 31 December 2021. 

Not every CLO can be a winner
The CLO industry has undeniably performed well enough to justify the plaudits it receives. But there will always be some unloved CLO tranches that slip into triple C territory

We can cope with downgrades again

Rolling the dice on Turkey and Italy
Gambling specialists with operations around the Mediterranean are facing political risks and currency falls – but there are opportunities to hit the jackpot if investors play their cards right

Aircraft lessors: gathering clouds lead to talk of turbulence
Aircraft leasing companies have been cruising over the past two years as passenger numbers grew, but rising interest rates and trade tariff concerns are making some bondholders nervous

BRF avoids butcher’s block – for now
While Brazilian meat exporters appear to have survived claims of widespread malpractice throughout the country, the future of the world’s largest poultry producer still hangs in the balance
 

Drug makers: desperately seeking pain relief
With Teva’s profitable Copaxone being undermined by cheaper alternatives, the company is in need of a pick-me-up. By Euan Hagger

Consumer lending: questions pile up for debt collectors
Cabot’s failed IPO has hit bonds across the debt collection sector – and made investors much more cautious. By Euan Hagger

Payday: Investors go for broke on regulatory bet
New regulations could seriously hamper US payday lenders – but bond holders are betting the rules won’t be enacted

Aluminium: Learning to live with crushed prices
The slump in the price of aluminium has hurt even Chinese producers. That is good news for other borrowers

Container shipping: Struggling to stay afloat
Debt and overcapacity mean container shippers must consolidate fast to avoid further wrecks

Equipment rental: debt investors call for safety measures
Resistance is high to equipment renters that continue to splash out on capital spending

Rethinking credit value
CLO seniors, cash-CDS basis and tranche shorts were some of bank researchers' top picks last month, as volatility sends analysts back to the drawing board

Oilfield services: Drillers in deep trouble
As the oil slump continues, credits that supply drilling and other services are bearing the brunt of spending cuts