Fitch Publishes Global CLO Market Trends Quarterly

NEW YORK--()--Issuance of new U.S. collateralized loan obligations (CLOs) began the year at a brisk pace; however, issuance for the remainder of the year is expected to slow, according to Fitch Ratings. Fifty-two U.S. CLOs and nine European CLOs priced during the first quarter of 2015, according to Fitch Ratings in its latest Global CLO Market Trends Quarterly.

Fitch rated six U.S. CLOs during the first quarter that were issued in compliance with European risk retention rules. Liability spreads on these transactions were tighter than non-compliant structures by approximately six basis points on the senior-most tranche. Delayed-draw note structures have also become more common in the U.S. as a potential method to preserve refinancing rights after risk retention is implemented in late 2016.

Fitch's latest 'Global CLO Market Trends Quarterly' newsletter is available at 'www.fitchratings.com' or by clicking on the above link.

Additional information is available on www.fitchratings.com

Applicable Criteria and Related Research: Global CLO Market Trends Quarterly

http://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=865551

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Contacts

Fitch Ratings
Derek Miller
Senior Director
+1-312-368-2076
Fitch Ratings, Inc.,
70 West Madison Street,
Chicago, IL 60602
or
Kevin Kendra
Managing Director
+1-212-908-0760
or
Matthias Neugebauer
Managing Director
+44 20 3530 1099
or
Media Relations
Sandro Scenga
+1-212-908-0278
New York
sandro.scenga@fitchratings.com

Contacts

Fitch Ratings
Derek Miller
Senior Director
+1-312-368-2076
Fitch Ratings, Inc.,
70 West Madison Street,
Chicago, IL 60602
or
Kevin Kendra
Managing Director
+1-212-908-0760
or
Matthias Neugebauer
Managing Director
+44 20 3530 1099
or
Media Relations
Sandro Scenga
+1-212-908-0278
New York
sandro.scenga@fitchratings.com