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U.S. Structured Credit Roundtable: Investors Expect U.S. CLOs To Continue To Perform Well In 2012 Jan 12 Product Image

U.S. Structured Credit Roundtable: Investors Expect U.S. CLOs To Continue To Perform Well In 2012 Jan 12

  • ID: 2040250
  • January 2012
  • Region: United States
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services recently hosted a roundtable with U.S. collateralized loan obligation (CLO) investors to discuss the current state of and outlook for the U.S. CLO market. The investors focused on what they see as robust structural features in CLOs and the CLOs' ability to withstand default cycles and create long-term value. One investor stated that collateral managers have flexibility to distinguish themselves from peers and provide value to all parts of the capital structure. Keeping in the theme of capital structure, another investor commented that the credit spread, given the true level of credit risk, makes the senior part of the capital stack very appealing to investors. Most of the investors are anticipating that U.S. CLO issuance...

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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.

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