Fraser Sullivan amends CLO docs on recent deals, says Moody's

Moody’s has announced that changes have been made to the indenture in two Fraser Sullivan-managed CLOs to correct inconsistencies between the deal's documents. The supplemental indenture will permit any sale and purchases undertaken by the manager to go down in the trustee reports under the trade date rather that the settlement date.

The offering circular, which is handed out to investors ahead of the CLO sale, had indicated that the trade date would be used in the trustee reports and the supplement to the indenture, which is a CLO's legal document, will now bring these two documents in line with each other.

The announcement centres around two relatively recent transactions in Fraser Sullivan CLO V, which priced earlier this year and COA Tempus CLO, which priced just over a year ago. Moody's adds that the amendments will have no affect on the deal's ratings.