September 2011 European CLO Performance Index Report: Increases In 'CCC' Assets And In The Number Of Transactions Failing Junior OC Tests Dec 11
- Language: English
- Published: December 2011
- 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
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Research Type: Full Analysis