April 2012 European CLO Performance Index Report: 'CCC' Rated Assets Increase For All European Cohorts While Overcollateralization Ratio Cushions Show Mixed Performance Sep 12
- Language: English
- Published: September 2012
- Region: Europe
Standard & Poor's Ratings Services today took various rating actions on Malin CLO B.V.'s outstanding €440.48 million notes. Specifically, we lowered our ratings on seven tranches and removed them from CreditWatch negative. Malin CLO is a cash flow collateralized loan obligation (CLO) transaction that securitizes loans to primarily speculative-grade corporate firms. The rating actions follow the application of our updated criteria for corporate CDOs, as well as our assessment of the credit deterioration in the transaction portfolio. None of the ratings was affected by either the largest obligor default test or the largest industry default test, two supplemental stress tests we introduced as part of our criteria update (see "Update To Global Methodologies And Assumptions For Corporate Cash Flow And...
Companies mentioned in this report are:
- Malin CLO B.V.
Action: Downgraded, Off CreditWatch
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
- Malin CLO B.V.