CLO players eyeing another wave of downgrades in autumn

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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