Tour bus operator joins holiday bankruptcies

Coach America, a tour bus operator based in the US, filed for chapter 11 bankruptcy on Tuesday with around $400 million in debt. 17.1% of US CLOs own the company's loans, according to data from Creditflux's CLO-i.

It will join equipment rental company Ahern Rentals and AES Eastern Energy, a subsidiary of AES Corp, which filed for chapter 11 over the holiday period on 22 and 30 December respectively. Ahern owes an estimated $230 million in debt, while AES Eastern has an estimated $500 million.