S&P puts 15 energy-heavy CLOs on negative watch
S&P Global Ratings said on Monday that it has placed 25 tranches from 15 CLOs with high exposure to energy sector obligors on ratings watch negative.
The 15 US CLO transactions have been priced in the last eight years and the tranches flagged for potential downgrades are all triple-B rated."For each transaction, the CLO performance factors include some combination of higher than average exposure to loans from 'CCC' rated obligors, reduction in overcollateralization ratios, ...
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