Only 21 pre-crisis CLO tranches in default, says S&P

Euro_ship_Alamy_ 230x150_14Nov19
By Tom Brown
18 Nov 2019

More than a decade after the financial crisis, and with leveraged loan growth under the regulatory microscope, only two CLO 1.0 deals rated by S&P Global Ratings remain outstanding, with only 21 tranches defaulting since 1997.

Double-B tranches had the most defaults, at 17, with triple-B tranches having three defaults and only one single-B tranche triggering a default event.

“The performance of CLO 1.0 was remarkable,” said Emanuele Tamburrano, senior director and analytical manager for EMEA. “People don’t appreciate the performance that over 20 ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.