Moody’s hits CLOs with $100bn global review for downgrade

04 Mar 2009

Moody’s has placed all but the most senior triple-A rated CLO tranches on review for downgrade across the US and EMEA. The action, affecting $100bn of issuance, could show that the impact of Moody’s new CLO rating methodology, announced last month, is more severe than originally thought. Junior triple-As and double-A rated tranches are expected to be downgraded by two to four notches on average while single-A tranches in deals with more than 5% triple-C assets in their portfolio should be downgraded by five to eight notches on average. Euroweek on Friday assesses the impact on the structured credit market.

Tessa Wilkie +44 (0)207 440 6036

...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Oops, something went wrong

We're sorry but at the moment we can't load this data