Moody’s starts upgrading CLO tranches
Moody’s has started the process of upgrading CLO tranches, following an update to its methodology late last year. On Friday, the agency upgraded ratings on $311m of CLO notes across four deals.
The agency has changed its approach to leveraged loans that are on negative watch and that back CLOs.
On Friday, the rating agency upgraded three classes of notes totalling $115m in a CLO issued by AIMCo in December 2015 and refinanced in January 2018.Based on the update, the CLO’s ...