Ineos Downgrade Hits CLOs

Ineos has been downgraded from B to CCC+ by Standard & Poor's, putting more pressure on collateralized loan obligations that own the credit.

  • 30 Jan 2009
Ineos has been downgraded from B to CCC+ by Standard & Poor's, putting more pressure on collateralized loan obligations that own the credit. The chemical company is the second-largest obligor in European CLOs, according to a JPMorgan report. The bank suggests CLOs hold 50-60% of the company's first ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

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1 Citi 121,275.86 349 11.22%
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3 JPMorgan 93,458.89 272 8.65%
4 Wells Fargo Securities 83,061.10 241 7.69%
5 Credit Suisse 70,475.74 184 6.52%