Strategy & Outlook

Euro CLOs: Reports of Our Death Exaggerated

While the U.S. subinvestment-grade market, especially on the bond side, has seen a steady stream of European deals recently, one group of investors likely wouldn’t mind being shown a bit more love by these issuers and their underwriters: European CLO managers...

European Issuers Hit the U.S. Road

A number of European companies are opting to sell high yield bonds and loans in the U.S., and quite successfully, even though they don’t necessarily do business here...

Collateral Repair: Loans May Aid Euro Banks

Europe’s sovereign debt crisis has put a crimp in bank lending, but one of the measures being explored to free up capital could prove to be a boon for the region’s corporate loan market...

Mohegan Debt: No Fun in the Sun

If Mohegan Tribal Gaming Authority can’t reach a refinancing agreement with its lenders before long, bondholders could be headed for a painful, and protracted, restructuring...

Expectations for CLO Issuance Inch Up

Volume in 2011 landed comfortably within the typical analyst forecast of $10 billion to $15 billion...

Downgrades Indicate Coming Rise in Defaults

Downgrades at the lower end of the high yield rating spectrum have spiked in a way similar to late 2007...

Moody’s: Credit Quality Remains Good

Despite Europe's sovereign debt crisis, slow economic growth and disagreements about U.S. fiscal policy, the list of junk-rated companies rated B3 negative and lower has increased by just two issuers in the fourth quarter...

CIT Back on Track after Chapter 11

Over the last two years, the bank has proven that bankruptcy doesn’t have to mean the end...

High Yield, the Lesser Evil for Samson?

KKR pairs a reserves-based loan with a bridge-to-high yield bond facility in an environment where choosing companion financing often comes down to whether the loan or bond market is "the most dysfunctional"...

ABL Volume Up Amid Refinancing Boom

Thanks to the coalescence of a number of refinancing-friendly conditions, the asset-based lending market is having its biggest year ever...

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