CLO market to survive crisis credit wringer but will change
CLO players have been resolute that deal structures will withstand the pressure on corporate credit, and that the product has been tested by worse. But even though the market expects to weather the coming storm, industry veterans are predicting a new landscape after the virus crisis subsides, writes Paola Aurisicchio.
As US authorities extend social distancing guidelines until the end of April, and with growing predictions of an even longer period of economic inactivity, CLO market participants are increasingly concerned about potential defaults in leveraged loans, with managers steering deals into uncharted territory.The widely predicted outcome ...
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