Searching...

Entity

= Ultimate Parent

Obligor
Analyst
Location
ISIN
CUSIP

Leveraged Finance

Global Home > Leveraged Finance
US LEVERAGED FINANCE AND CLO WEEKLY

Increase in Incremental Loans, Inaugural Global CLO Chart Book, Muted Primary Market

Average loan prices rebounded from December’s market sell off, having recovered to a 96.89 average bid in February, up from 95.01 in December. If the new-issue loan market remains weak, incremental loan volume may remain strong. U.S. and European CLOs have material differences in terms of geographic diversity and regulation but there are many similarities in trends and metrics.

2019 Outlook - Leveraged Finance Roundtable

Michael Paladino, Head of US Leveraged Finance, discusses the outlook for leveraged loans and high yield bonds in 2019 with Lyuba Petrova and Eric Rosenthal of the Leveraged Finance team and Jessica Reiss from Covenant Review.

Outlooks 2019

Global Leveraged Finance

As part of our 2019 Outlooks series, we take a forward look at the high yield and leveraged loan markets in the U.S. and Europe. Browse Global Leveraged Finance Outlooks

US Leveraged Finance

Trends in new issuance, portfolio credit quality, and defaults and recovery for leveraged finance in the US.

European Leveraged Finance

Trends in the leveraged loan and high-yield bond markets and points out what to watch in the near term.

Leveraged Loan Default Rate to Finish 2018 Under 2%

The steady decline in institutional leveraged loan defaults will continue through the end of 2018 and likely well into next year, according to Fitch Ratings in a new report. However, a growing Tier 2 Loans of Concern list highlights uneasiness that has spurred recent bouts of market volatility, significant loan fund outflows and declining bids.

Topics in Leveraged Loans and CLOs

Fitch Ratings sponsored and participated in a variety of conferences for broadly syndicated loan (BSL), middle market (MM) and collateralized loan obligation (CLO) participants in September through November. Venues included New York and Los Angeles in the U.S. and Tokyo, Japan and Seoul, Korea in the Asia Pacific region. This research takes up some of the most commonly discussed themes and provides Fitch’s views on these subjects.

Liquidation Often the Outcome for Bankrupt U.S. Retailers

Further evidence of shifts in shopping patterns among U.S. consumers lies with the companies that have filed for bankruptcy or are currently in distress, according to Fitch Ratings in a new report.

What Investors Want to Know: Topics in Leveraged Loans and CLOs

Fitch Ratings sponsored and participated in a variety of conferences for broadly syndicated loan (BSL), middle market (MM) and collateralized loan obligation (CLO) participants in September through November. Venues included New York and Los Angeles in the U.S. and Tokyo, Japan and Seoul, Korea in the Asia Pacific region. This research takes up some of the most commonly discussed themes and provides Fitch’s views on these subjects.

Lev Loans and CLO Investors Focused on Downturn, Regulations and Docs

As 2018 comes to a close, leveraged loan and CLO investors are primarily focused on the economic and credit cycle, the time till the next downturn, the effects of regulation and looser documentation, Fitch Ratings says in a report about recently attended conferences.

Rise of ‘BBB’s in Corporate Finance – Risks to Watch

As part of our  2019 Risks to Watch series, Megan Neuburger, Managing Director in the U.S. Corporate Finance team, discusses the growth of ‘BBB’ credits during this credit cycle and the potential implications in the next downturn.  See our latest 2019 Credit Outlooks.

Annual Manual 2018

Annual Manual summarizes the major factors driving risk and opportunity for the various players in the leveraged finance space, including corporate bond and loan investors, CLO investors, corporate debt issuers, private equity sponsors, and regulators. Download your complimentary copy.

Fitch 50

Leverage Increases for the Fitch 50 Group of Speculative Grade Issuers

Leverage has increased for the Fitch 50 with the addition of several notable lower-rated issuers, according to the eighth edition of Fitch Ratings' "Fitch 50" - a look at debt structures and credit profiles for 50 prominent U.S. leveraged issuers.

Length of U.S. Bankruptcies Shrinks Significantly

According to a new Fitch Ratings bankruptcy case study report: "The compressed timeframe is benefitting creditors, minimizing employee and trade union uncertainty, and lessening disruption to operations," said Sharon Bonelli, Senior Director of Leveraged Finance.

US CLO Default Exposure Low for Now

While defaults in Fitch-monitored U.S. broadly syndicated loan (BSL) CLOs reached a low point in August, new defaults are likely in the near term, including some that are widely held.

Bankruptcies Still Few & Far Between for U.S. Industrials

Bankruptcies remain a rare occurrence for companies in the Aerospace & Defense (A&D) and Industrial & Manufacturing (I&M) sectors, according to a new report published by Fitch Ratings.

US Retail Leveraged Loan Defaults Drop to Lowest Rate in 12 Months

The July trailing 12-month default rate for U.S. retail leveraged loans fell to four percent from seven percent last month, marking the lowest point since June 2017, according to a new Fitch Ratings report.

Healthcare, Food, Beverage and Consumer Bankruptcy Enterprise Values and Creditor Recoveries

Despite U.S. healthcare defaults at a 16-year low, profits of some issuers are challenged. Default rates for healthcare, consumer and food & beverage sectors are lower than the U.S. market overall - a trend expected to continue absent unexpected external factors as cash flows are relatively stable.

Contacts

Jill Zelter

Business Inquiries

Jill Zelter

Group Head

+1 212 908 0774

Aymeric Poizot

Investor Relations

Aymeric Poizot

Group Head

+33 1 44 29 92 76

Richard Hunter

Analytical

Richard Hunter

Group Head

+44 20 3530 1102

Fitch Updates Terms of Use & Privacy Policy

We have updated our Terms of Use and Privacy Policies which cover all of Fitch Group's websites. Learn more.