Ratings

News

S&P: Sixteen Corporate Defaults Recorded So Far in 2010

There have been 16 corporate defaults so far this year and most have been in the U.S., according to a report published by Standard & Poor's...

Moody’s: Default Rate Falls to 11.6%

The trailing 12-month global default rate dropped to 11.6% from 12.5%, according to a report by Moody’s Investors Service. The rating agency said that the speculative-grade default rate dropped as well...

S&P Requests Feedback on CLO Metric

Standard & Poor’s would like input from loan market participants on a proposed metric that would estimate a CLO’s recovery value...

S&P: Recovery Rates in 2009 Below Average

Recovery rates on defaulted securities for 2009 were below the long-term average, according to a report published by Standard & Poor’s...

S&P: 2009 Ended with 265 Corporate Defaults

Global corporate bond defaults totaled 265 in 2009, with junk-rated companies comprising almost 90% of those that defaulted, according to a report issued today by Standard & Poor’s...

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Articles

Fallen Angels Provide Reward, and Risk

While credit quality is improving, there are still many more investment-grade companies likely to join the junk pile. The increased supply of high yield issuers is good news, but it could result in the dumping of lower-rated junk...

SEC’s Ratings Rules Get Mixed Reviews

The Securities and Exchange Commission’s proposed rules for rating agencies received a mix review from market participants this week...

CLOs Experience a Comeback; But Will It Last?

If the leverage finance market has a Mickey Rourke—the actor who wrestled his way back on top—it would probably be the CLO manager. CLOs have experienced a comeback recently...

CLO Managers Get Creative

CLO managers are finding creative ways to restructure their portfolios. Following Morgan Stanley’s announcement last week that it would repackage downgraded CDO tranches backed by leveraged loans...

Investors Cry Foul over Moody's Rating Fee

Leveraged loan investors are in an uproar over the fees they pay to obtain a credit estimate—a private rating on an individual loan—from Moody’s Investors Service...

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