Most Commented

Trups redemption clause will boost CDOs, says Moody's 9 days ago - 3 Comments
"If anything, the effect is neutral to negative on CDOs because the banks affected by Dodd-Frank's elimination of TruPS as Tier One capital represent the best credits in these pools.…"
LSTA raises objections to WSJ article on floating rate funds 2 days ago - 2 Comments
"Must be a slow news week..."
Global regulators consider bank creditor "bail-in" proposal, says... 8 days ago - 3 Comments
"No solution is a panacea, but this one does seem to meet the key learing from the GFC; there is a need to keep banks solvent in a crisis, but…"
Citi looks for tight pricing on new managed CLO 6 days ago - 2 Comments
"Midteens isnt actually that bad considering these new generation deals are only levered 2-4x vs the legacy structures at 10x or more"
Fitch trups CDO change will lead to new wave of downgrades 8 days ago - 2 Comments
"Trups are not debt instruments anyway, which means the rating agencies' default studies weren't applicable to rating trups CDOs. For them to have gotten comfortable rating these deals looked like…"
Creditex holds Pakistan flood relief charity day 2 days ago - 1 Comment
"A worthy cause. well done lads. well done indeed."
Credit Agricole rallies after beating Q2 estimates 7 days ago - 1 Comment
"Once you release provisions related to discontinued activities (CDO, Correlation, etc...), it looks so nice to beat estimates..."
Distressed buyers drive up telecom's PIKs 7 days ago - 1 Comment
"Obvious point, but the "PIK" bonds must have a provision to stop paying interest well before the company hits a default event. I assume the buyers have read the docs…"
Credit derivatives prepares for switch to new novation practice 7 days ago - 1 Comment
"The key difference between a novation and an assignment is that a novation requires the consent of all parties, whereas an assignment can be done by the obligor without the…"
S&P downgrades broadcaster as loan holders block coupon 8 days ago - 1 Comment
"Fascinating situation - there's no chance now that the company can refinance its debt in the market. S&P's projection of a near-zero recovery for the sub debt means the loans…"
German parts maker spurns new issue ratings, newspaper reports 9 days ago - 1 Comment
"I'm all in favour of a rebellion against rating agencies. It will be instructive to see how the market reacts. Having said that, something else may be afoot. Being "dissatisfied…"
GSO plans structured credit fund-raising 10 days ago - 1 Comment
"I take there is no implicit guarantee on these investments as the fund is not a "Government Sponsored Organisation" !!!!!!!!"
VTB's non-call of bond will influence Russian market, says VTB 10 days ago - 1 Comment
"it's a worrying trend as each issuer who decides not to call diminishes the "tradition of calling" for all and lessens the reputational damage for all issuers of not calling…"
Goldman sues Natixis over super senior CDO swap 14 days ago - 1 Comment
"The money on the table here must be in the neighborhood of $1 billion. It will be interesting to read the details of the dispute."
Court ruling undermines Lehman bankruptcy judge's position 22 days ago - 2 Comments
"It would also seem to provide another route to challenge Peck's decisions even if the Perpetual / BNY case eventually settles"
GFI Credit Match - The Evolution of Trading: Liquidity, Flexibility, Reliability