US and European CLO triple Bs hit secondary market as downgrade fear sets in
Downgrade risk is being priced into triple B-rated CLO tranches, according to market sources, after a wave of mezzanine and junior CLO debt tranches swept onto b-wics yesterday

Ellington European CLO still on table despite scrapped warehouse rating
DBRS Morningstar has discontinued ratings on the warehouse line backing the launch of Ellington Management’s debut European CLO, but sources say the CLO is still going ahead

Palmer Square promotes senior official to president after Long drops title
Palmer Square Capital Management has promoted a partner and managing director president effective 18 March. The title was previously held by founder Chris Long 

TCW looks to price static US CLO with triple As at 230bp
TCW Asset Management is the latest manager to test the market for new CLOs amid the coronavirus crisis, with the firm targeting a Wednesday pricing date for its new deal named TCW CLO 2020-1

Global CLO b-wic round-up: spreads tighten across the board as bond-flex CLOs trade well
Price levels have tightened and, more importantly, stabilised across the secondary CLO market over the last two weeks, but the Easter break led to a drop off in CLO b-wic supply

Moody's joins Fitch and S&P in CLO negative watch camp as it acts on 976 tranches globally
Moody’s has put tranches from 358 US CLOs and 39 European CLOs on review for downgrade, in an announcement that places 976 tranches (859 in the US 117 in Europe) at risk of losing their original rating

Experienced CLO official departs Pretium after two years
A CLO and loan portfolio manager has departed Pretium Partners, according to market sources, just under two years after his arrival

Yes they Canyon: west coast manager joins group of post-covid 19 CLO issuers
Canyon Capital has joined the exclusive group of managers to price a new issue CLO amid the crisis stemming from the coronavirus pandemic

Redding Ridge and Natixis reunite for second new CLO in a month
Redding Ridge Asset Management, the CLO manager affiliated with Apollo Global Management, has priced its second CLO of the month, becoming the fist manager to issue two new transactions following the coronavirus selloff in March

OC health check: another two CLOs fail senior OC tests
Two senior overcollateralisation test failures number among 26 deals joining the list this week of CLOs breaching their OC tests in April, according to the latest trustee reports on CLO-i.

CSAM holds second close on drawdown CLO fund
Credit Suisse Asset Management is set to hold a second close on a CLO fund it launched late last year.

If history repeats itself, the best CLO play could be to hold equities
After a futile scramble for liquidity, LyondellBasel filed for bankruptcy in the early morning hours of 6 January 2009. Bad luck for CLO managers that were holding the loan? Not at all

Eagle Point cuts dividend payments on listed CLO equity fund
Eagle Point Credit Company has slashed its divident payment by 60% to eight cents a share, down from 20 cents a share, following losses to net asset value in the first quarter as a result of the coronavirus pandemic

New CLO affected as Fitch puts eight US single A tranches on negative watch
Fitch Ratings today added another 19 CLO tranches to its negative watch list, including eight that an original rating of single A, according to a statement from the rating agency

We start again: loan crash sparks move to short-dated CLOs
After 12 years, the CLO bull run has come to an end. But these things were built to withstand massive shocks, so there’s no time to panic. Rather, it’s time to kick off 3.0s with static deals.

GoldenTree enters primary CLO market after amassing $315 million of loans
GoldenTree Loan Management is 70% ramped on a new US CLO, according to market sources.

S&P pushes downgrade button on three US CLO tranches
S&P Ratings has downgraded two tranches of Marathon CLO V and one tranche of Mountain View CLO 2013-1

US CLO triple As move to below 200bp - but talf shouldn't get all the credit
US CLO triple As are trading inside 200 basis points for the first time in almost a month – but that is less a reflection of the talf announcement last week than to do with the broader rally across risk assets

Two US CLOs fail senior OC tests
Apex Credit Partners and Marathon Asset Management have become the first CLO managers in the 2.0 era with deals failing their senior overcollateralisation tests, according to latest trustee reports on CLO-i

AGL prices novel CLO with ability to reinvest would-be equity distributions
AGL Credit Management has become the fourth manager to issue a new CLO following the coronavirus-triggered sell-off

Senior CLO investment officials leaves GSO for Kennedy Lewis
CLO tranche investor Dik Blewitt has parted ways with GSO Capital Partners, landing a job as partner and 'head of tactical opportunities' at Kennedy Lewis Investment Management

Four managers eye breakthrough new issue European CLOs
The European primary CLO market is showing signs of revival with four managers eyeing deals

Two senior credit officials leave Global Atlantic
Global Atlantic has parted ways with two senior members of its credit team, including its head of credit investments

US primary CLO market gathers pace as Guggenheim makes a comeback
Guggenheim Partners has staged a return to CLO primary issuance after eight months, pricing a new transaction despite the extended volatility following the coronavirus outbreak

Redding Ridge prices one-year US CLO
Redding Ridge Asset Management, the CLO management vehicle affiliated with Apollo Global Management, has become the second manager to price a CLO following the coronavirus-related selloff