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US CLO credit Air Methods Corporation files for bankruptcy
7 months ago
Air Methods Corporation, a widely held name in the US CLO market, filed for Chapter 11 this morning reporting USD 1bn to USD 10bn in liabilities. -
Beneath the triple C: Life could be better, but it’s just a letter, under the CCC
1 year ago
Many market participants were eagerly looking forward to a break in December after a gruelling year, but the rating agencies were in no mood to oblige. -
Beneath the triple C: Stormy October hits CLOs with rising tide of downgrades
1 year ago
After a slight respite in the pace of downgrades over the summer for CLOs, October brought renewed momentum as macro-economic pressures - primarily high interest rate burdens for corporate borrowers and supply side inflation - became the recurring rationale -
Beneath the triple C: US CLOs take a dip in the triple C as Europe watches from the sun lounger
1 year ago
The US CLO market bore the brunt of downgrades to triple C in July and August, with a total of $6.22 billion of paper affected. European CLOs enjoyed a more relaxing summer holiday, with only 1 name representing €33.88 million worth of bonds downgraded to triple C. -
Beneath the triple C: ebbs and flows leave triple C levels at a temporary stasis
1 year ago
Following a rising tide of downgrades in May the loan market stabilised somewhat in June, with seven issuers held by CLOs downgraded to triple C and a counter-swell of five names upgraded to single B. -
Beneath the triple C: CLOs take first knock since covid scrapes
2 years ago
CLO managers have been hit by a number of loan downgrades to triple C for the first time since the wave of pandemic-related cuts trickled to a halt in early 2021. Companies indirectly linked to the health sector suffered most in May -
Beneath the triple C: resurfacing credits surpass divers as tide turns for CLOs
3 years ago
Upgrades above triple C overtook downgrades to that rating or below in February. Moody's or Standard & Poor's cut six corporate debt issuers to triple C or below in February, out of which just four can be found in CLO portfolios -
[update] Beneath the triple C: theme parks take portfolios on downward ride
3 years ago
Seven corporate debt issuers were downgraded to triple C or below in September by Moody’s or Standard and Poor’s – hurting $2.16 billion of US CLO loans and €1.16 billion of European CLO portfolio. The pace of CLO loan downgrades to triple C has slowed steadily since the peak in April -
CLOs hold €250 million of defaulted French events organiser Comexposium
3 years ago
CLOs hold €246.1 million of French events organiser Comexposium, which entered safeguard protection in the Commercial Court of Nanterre on Wednesday -
Dishware maker files for bankruptcy as CLOs hold $200 million
4 years ago
CLOs hold $207.58 million of Libbey Glass, which filed for chapter 11 protection in the US Bankruptcy Court for the District of Delaware on Monday, as a result of the firm's impending debt maturities and the impact of coronavirus -
OC health check: US CLOs hit by new round of test failures
4 years ago
135 deals breached an over-collateralisation test last week, 78 for the first time, according to the latest trustee reports from CLO-i. -
If history repeats itself, the best CLO play could be to hold equities
4 years ago
After a futile scramble for liquidity, LyondellBasel filed for bankruptcy in the early morning hours of 6 January 2009. Bad luck for CLO managers that were holding the loan? Not at all -
CLOs feel flat after housing $335 million of bankrupt RentPath
4 years ago
CLOs house $334.5 million of the debt of RentPath Holdings, which filed for Chapter 11 in the US Bankruptcy Court for the District of Delaware on Wednesday -
Beneath the triple C: $1 billion of CLO credits take a dive
4 years ago
$957.9 million worth of loans held by CLOs suffered downgrades to triple C last month, with a further $442.1 million of existing triple C credits getting knocked lower still, according to the latest trustee reports on CLOi. -
CLO managers lick their wounds with Joerns bankruptcy
4 years ago
Seven CLO managers hold $92.3 million exposure to US healthcare equipment businesses Joerns Woundco Holdings, which filed for Chapter 11 bankruptcy on Monday
15 results found Showing page 1 of 1
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