U.S. Structured Credit Roundtable: CLO Issuance And Performance Are Holding Steady Despite Economic Uncertainty Jan 12

Standard & Poors, January 2012

Abstract
Absent a serious tumble by the broader economy, the collateralized loan obligation (CLO) market should remain healthy over the next six to 12 months, according to participants in a recent roundtable discussion hosted by Standard & Poor's Ratings Services. The sovereign debt crisis in Europe remains a concern for European loans, but U.S. CLO should experience less of an effect. Panelists discussed current CLO performance, projected issuance over the next six to 12 months, the impact of pending regulation, and other key topics. The panelists were generally positive about the outlook for leveraged loans. Most expect low defaults and healthy balance sheets among issuers--which would benefit the CLO market. On average, participants forecast 2012 issuance of $10 billion-$20 billion, about...

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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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