Healthy CLO Issuance Expected into '05

McDermott, Judy
January 2005
Investment Dealers' Digest;1/17/2005, Vol. 71 Issue 2, p15
Trade Publication
The article predicts that robust level of the U.S. collateralized loan obligation (CLO) in 2004 may continue well into 2004. Standard & Poor's Corp., Moody's Investors Service and Fitch Ratings reported big jumps in issuance in 2004. A major factor supporting robust CLO issuance last year was the low loan default rate, which, according to many market players, will continue into 2005. Given the flood of eager investors, CLOs are frequently oversubscribed, and managers don't see interest dropping off anytime soon.


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