European CLOs take on the wall
Many European CLOs will exit their reinvestment periods within a year and will be vulnerable to rising default rates. Peter Melichar looks at the likelihood of this leading to tranche losses

Tracking the CLO dividend deluge
Once given up for dead, many CLOs are paying equity investors huge returns. We use CLO-i to find those with the highest distributions

Credit spotlight - Diagnosis: too much debt
With the US federal government looking to cut spending, some heavily indebted US hospital operators are likely to be heading for their sick beds.

Growth in real money accounts drives CDS market flows
The credit default swap market has been transformed beyond recognition in recent years. We present the first ever league table of CDS counterparties by outstanding volumes.

Booking sky-high growth
Rapid rises in online hotel bookings are helping internet travel agencies deliver impressive hikes in revenue despite a relatively shaky recovery in travel demand. 

Cracking the coco pricing conundrum
By drawing paralells between cocos and credit derivatives, it is possible to put a rough price on cocos – and a limit on coco issuance

Spotlight on CLO returns
Data submitted for the Creditflux CLO manager awards provides a valuable snapshot of the whole market

Tanker credits sunk by oversupply
The worst should be over for tanker companies but exuberant ordering of new vessels prior to 2009 and high leverage mean that most are still struggling

Four-year-olds put in good run
Being launched just before the crunch hit doesn’t seem to have hurt 2007 CLOs, which are now outperforming older vintages on a range of metrics

Reit repairs begin to pay off
After a disastrous 2009 and a period of refinancing, reits are starting to deliver strong returns again, with those active in high quality office space leading the way

JP Morgan still on top
Our first quarter issuance tables show JP Morgan retaining top spot while Citi climbs two places, from fifth to third

2005 CLOs bounce back
As they move out of reinvestment periods, US CLOs from the 2005 vintage are now passing tests by a comfortable margin

High yield financials tempt brave buyers
Yield hungry investors are turning to US speciality financial companies in spite of their high debts and unresolved questions about their funding

GoldenTree deal tops CLO ranking
Recent purchases of loans at below par have helped boost Laurelin I’s junior OC cushion and put it at the top of our list of 2006 vintage European CLOs. 

JP Morgan dominates debt volumes
A bumper year for global corporate debt issuance saw US banks – led by JP Morgan – emerge as the leading underwriters in our new sector-driven league table.

CLO outperformers of 2006
Par value test scores have risen sharply for 2006 US CLOs, but some deals have done better than others. 

Spotlight on pharmaceuticals - A bitter pill
A few years ago they had top ratings, but the creditworthiness of the world’s largest producers of branded pharmaceuticals is waning – and worse is to come.

The class of 06: where are they now?
In the first of a regular series, we look at which are the best performing 2006 vintage US CLOs from the perspective of portfolio quality. Some deals have improved dramatically in the past 18 months. 

Credit hedge funds deliver the goods
Long-only credit funds have made stellar returns in the past 18 months, but credit hedge funds have delivered better Sharpe ratios