US loan trading: McDermott downgrade leads to CLO outflows as managers board rail road firm

By Michelle D'souza

US freight railroads operator Genesee & Wyoming allocated its $2.55 billion term loan in November, making it the most popular issuer in the month. And CLO managers were sceptical of the outlook for McDermott Technology - signalled by $185.9 net outflows - after Moody's downgraded its corporate family rating from B3 to Caa2 

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TAGS: CLO Leveraged loans North America Round-up