Latest news
Latest news
Rating upgrades to CLO tranches by Moody's and Fitch could let managers increase leverage in deals
Manager takes advantage of tight spreads available for refinancings to cut triple-A pricing by 14bp
How securitization can help high LTV mortgage lending, and why is the CLO market so busy
More articles
More articles
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The current rally in leveraged debt has made collateralized loan obligations a bargain for investors, according to Babson Capital Management.
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New reforms threaten to shrink the number of banks in Europe willing to provide swaps in securitization trades, according to market professionals.
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A federal judge in New York has dismissed lawsuits brought by investors against Bank of America’s Merrill Lynch unit to force the bank to bring charges against officers and directors for their role in risky investments in collateralized debt obligations.
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The Federal Deposit Insurance Corporation has the market scrambling to understand an addition to its risk retention and qualified residential mortgage proposals, passed unanimously by the board Tuesday, that will force non-QRM deals to be structured with a “premium capture cash reserve account.”
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JPMorgan and GE Capital decided to market Kasima Incremental Term Loan, a $220 million securitization of media industry revenues, to syndicated loan investors—running the transaction from their loan desks and sidestepping securitization investors, according to the deal’s sponsor.
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The Basel Committee on Banking Supervision is said to be considering a capital surcharge on banks deemed systemically important.
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European collateralized loan obligations have little to cheer about Moody’s Investors Service’s announcement that changes in how it rates CLOs will result in upgrades and result in better perception of their creditworthiness.
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Moody’s Investors Service has downgraded the senior debt and deposit ratings of 30 of Spain’s top banks two weeks after lowering the country’s rating.
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Barclays Capital is said to be liquidating a €300 million ($424 million) collateralized loan obligation to profit from its investment.