Fitch warning on refi wall
The problems of the European leveraged finance market’s reliance on CLOs from the boom were again underlined in Fitch’s half year leveraged credit review. Creditor forbearance — probably leading to default and restructuring — may be required if the market does not develop enough non-bank lending capacity to address the maturity wall, the rating agency said.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ European securitization issuance database
- ✔ Daily newsletters across markets and asset classes
- ✔ 1 weekly securitization podcast