CLO players eyeing another wave of downgrades in autumn

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By Paola Aurisicchio
20 Aug 2020

As the CLO market enters the end of the summer, managers are getting ready to restart activity after Labor Day. But they are concerned about a potential wave of negative actions from rating agencies.

New issuance of CLOs slowed over the week. Among the new deals was Octagon Investment Partners, which priced a $495m CLO on Wednesday via Citigroup that includes $310m senior notes, rated AAA by S&P and Fitch. It was priced at 150bp over three month Libor. The deal had ...

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