Moody's takes negative action on 200 names held in CLOs

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By Paola Aurisicchio
02 Apr 2020

Moody’s has taken negative action on over 200 leveraged loan issuers held in CLOs since the beginning of March, according to a report from the rating agency this week.

According to Moody's, roughly 14% of CLO collateral is tied to sectors heavily impacted by the economic fallout from coronavirus, such as hospitality, gaming, leisure, retail and automotive, while another 53% of CLOs are exposed to “moderately vulnerable” sectors, such as business services, high-tech and capital equipment.

CLOs ...

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