US retailer bankruptcy spells hit for CLOs and CDX HY tranches

By Dan Alderson

Thursday, May 07, 2020

US retailer Neiman Marcus's filing for chapter 11 protection opens the prospect of a fourth credit event in the CDX HY index and a sixth for on-the-run HY tranches, as well as a hit for CLOs

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TAGS: CDS High yield bonds CLO Distressed debt Shenkman CVC Default North America Synthetic/SRT

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