CLO test failures soar, says Wachovia
In a recent research report, Wachovia says that 72 CLOs have now failed overcollateralisation (OC) tests out of a total of 508 post-2002 deals that the bank's researchers track
the IC tests are by and large a temporary issue resulting from reset mismatch on assets and liabilites. In the US, issue is mostly played out with LIBOR hitting a floor and CLOs having mostly quarterly resets.
the IC tests are by and large a temporary issue resulting from reset mismatch on assets and liabilites. In the US, issue is mostly played out with LIBOR hitting a floor and CLOs having mostly quarterly resets.
CLOs
- Partnership with Jefferies bears fruit as manager returns to CLO primary 18 hours ago
- US resets continue as Redding Ridge joins in 23 hours ago
- Sycamore resets and upsizes 2023 vintage CLO 1 day ago
- 2020 US CLO gets a refi 1 day ago
- Blackstone refinances 2018 US CLO 1 day ago
Comment by: Anonymous. Posted 15 years ago [2009-02-10 18:59:19]