Constellis default could drive big CLO losses, Moody's says

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By Paola Aurisicchio
10 Jan 2020

Over 200 CLOs could be hit with losses as a result of a default by security and defense firm Constellis, according to Moody’s.

Analysts at the rating agency identified 200 CLOs with exposure to about $600m of debt tied to the Virginia-based company. 

“This is among the most sizeable exposures to a defaulted issuer in the CLOs we currently rate, and at the current prices there could be significant losses for CLOs ...

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