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Par building may not be enough to cure CLO test breaches, finds Nomura
8 years ago
Par building by CLO managers may not be enough to stave off the impact of recent defaults on overcollateralization test buffers, according to a research note from Nomura -
Energy sector default rate rises to 9%, finds Fitch
8 years ago
12 month trailing default rate up to 9% for energy names, says rating agency. At the end of January this figure stood at 7%. -
Loan sell-off not justified by fundamentals, says Highland's Okada
8 years ago
“We're in an environment where investors are far more distressed than their investments,” said Okada at a round table event last week -
Loan holders hit out at Paragon bankruptcy plan
8 years ago
Holders of Paragon Offshore term loans, which are widely held by CLOs, have vehemently opposed the company's bankruptcy plans, according to a report by Debtwire -
1999-style default party could hit CLO triple Bs, says Citi
8 years ago
Low prices mean that CLO mezzanine should make double-digit returns even under scenarios that cause a cashflow interruption -
CLOs stand to gain from Paragon restructuring
8 years ago
Around 8% of CLOs own Paragon Offshore term loans, according to CLO-i -
Commodities slump claims its latest victim as Noranda is canned
8 years ago
According to CLO-i data, around $210 million of Noranda's 2019 term loan is held in CLOs, with 83 deals holding some exposure to the name. These deals are set to take a hit after Noranda filed for bankruptcy yesterday -
Patriarch steps down from Zohar CLOs ahead of family office conversion
8 years ago
Lynn Tilton's Patriarch Partners has resigned from its role as manager on three Zohar CLOs -
Verso default pushes at least one CLO towards test breach, says Nomura
8 years ago
The recent chapter 11 bankruptcy filing by Verso has put one CLO in danger of failing its interest diversion test, according to a recent research note from Nomura. -
One in five high yield energy borrowers could default this year, says Barclays
8 years ago
Bank revises default forecast to take account of recent oil price falls -
Isda calls in top silks to decide Novo Banco credit conundrum
8 years ago
Isda's credit derivatives determinations committee has convened an external review panel to decide the thorny issue of whether Novo Banco has defaulted -
Repricing of risk sees 12 loan deals scrapped in Q4, says Fitch
8 years ago
Repricing of credit risk by institutional investors led to a significant decline in leveraged loan issuance in the fourth quarter, according to a report from Fitch Ratings this week -
CLO managers get a paper cut as Verso files for chapter 11
8 years ago
A handful of CLOs will take a hit after paper manufacturer Verso filed for bankruptcy yesterday -
CDS auction reveals huge confusion about value of Abengoa bonds
8 years ago
Abengoa bonds price at less than five cents on the dollar -
US CLOs take yet another hit as Arch Coal goes up in smoke
8 years ago
Several US CLOs have taken a severe hit after embattled coal miner Arch Coal filed for bankruptcy yesterday -
Bond market update - while you were away
8 years ago
Major commodities downgrade, Portuguese bank bond moves and Chinese default risk keep bond markets interesting over holiday period -
Fitch predicts 2.5% loan default rate as energy credits run out of steam
8 years ago
US leveraged loan defaults are expected to hit 2.5% in 2016, according to Fitch Ratings -
Ukraine defaults on bond to Russia, says Bloomberg
8 years ago
€3 billion bond from Russia to Ukraine will go unpaid -
Abengoa’s filing is a default for some, says Isda
8 years ago
Isda rules that Abengoa's filing for credit protection for older contracts -
Isda puts off second decision over Abengoa
8 years ago
Determinations committee to reconvene over Spanish energy firm -
Pimco and others sue Citi over MBS losses, reports Reuters
8 years ago
Reuters reports that Pimco is among a group of investors suing Citi over losses from mortgage-backed securities -
No credit event yet on Abengoa, rules Isda
8 years ago
Isda's credit derivatives determinations committee yesterday decided that Abengoa does not (yet) count as a credit event -
Default highlights concentration risk in Chinese CLOs, says Fitch
8 years ago
The recent default of China Shanshui Cement Group (CSCG) highlights the concentration risk in Chinese CLO structures, according to an announcement from Fitch Ratings -
Defaults will soar next year, predicts Barclays
8 years ago
US high yield defaults will increase sharply in 2016, according to new Barclays research -
Metals and mining loan defaults could hit 25% by year end, says Fitch
8 years ago
Loan defaults in the metals and mining sector could hit 25% by year-end if struggling coal miners Arch Coal and Peabody Energy are unable to stave off bankruptcy, according to research from Fitch Ratings
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