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Structured
CLO cash holdings increase, according to Standard & Poor's
Tuesday, August 24, 2010
Cash holdings by CLOs have risen from $9.7 billion at the end of the first quarter to $10.1 billion at the end of June, according to Standard & Poor’s latest CDO Spotlight report. The rating agency analysed the 633 US CLOs it rates, and found that around 3% of their assets are currently in the form of cash. The relatively large cash holding may reflect the shortage of opportunities to reinvest in the new issue loan market, where volumes remain well below historical levels.
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CFlux secondary
CLO index levels:
| Index | 6 Feb |
|
| CFlux USD AAA | ↑ | 94.9 |
| CFlux USD AA | ↓ | 81.3 |
| CFlux USD A | ↓ | 75.0 |
| CFlux USD BBB | ↑ | 74.8 |
| CFlux USD BB | ↑ |
72.1 |
| CFlux USD EQ | ↑ | 67.6 |
