articles Ratings /ratings/en/research/articles/210721-weekly-european-clo-update-12040052 content esgSubNav
In This List
COMMENTS

Weekly European CLO Update

COMMENTS

SF Credit Brief: U.S. CMBS Overall Delinquency Rate Increased By 32 Bps To 4.7% In April 2024; Office Loans Had The Highest Increase

COMMENTS

Japan Private-Sector RMBS Performance Watch: Rate Hike Has Limited Impact

COMMENTS

Private Markets Monthly, April 2024: Private Credit Is A Growing Segment Of Nonbank Finance

COMMENTS

CreditWeek: How Could Megatrends Influence Credit Materiality?


Weekly European CLO Update

This report does not constitute a rating action.

In response to investors' growing interest following the coronavirus pandemic and ongoing credit effects on companies and European CLOs, S&P Global Ratings is publishing a regularly updated list of rating and recovery actions we have taken globally on nonfinancial corporations that have affected European CLOs, and a summary of how European CLOs have been affected with key benchmarks.

Table 1

Rating actions on global nonfinancial corporations over the past 30 days
Date Obligor Asset No. of affected CLOs Notional exposure in CLOs (€) Rating Previous rating Rating impact for CDO Evaluator*
Apr 25, 2024 Ardagh Metal Packaging Finance Plc EUR450 mil 2.00% nts due 09/01/2028 8 12,000,000 CCC+/Stable B-/Negative Yes
Apr 25, 2024 Ardagh Metal Packaging Finance Plc EUR500 mil 3.00% nts due 09/01/2029 18 19,050,000 CCC+/Stable B-/Negative Yes
Apr 25, 2024 Geo Group (The) Inc. US$857.18 mil fltg rate tranche 1 exchange term bank ln due 03/23/2027 1 3,589,848 B+/Stable B/Watch Pos No
Apr 25, 2024 La Financiere Atalian Sa EUR625 mil 4.00% nts due 05/15/2024 3 3,858,000 CCC+/Stable D Yes
Apr 25, 2024 La Financiere Atalian Sa EUR350 mil 5.125% nts due 05/15/2025 2 4,000,000 CCC+/Stable D Yes
Apr 25, 2024 Casino Guichard - Perrachon S.A. EUR900 mil 2.798% callable med-term nts ser 32 due 08/05/2026 16 22,400,000 D CCC- Yes
Apr 25, 2024 Casino Guichard - Perrachon S.A. EUR800 mil Term B bank ln due 08/31/2025 180 489,076,000 D CCC- Yes
Apr 23, 2024 Kloeckner Pentaplast Of America Inc. EUR600 mil fltg rate Term Loan Facility B bank ln due 02/19/2026 117 261,033,077 B-/Negative B-/Stable No
Apr 23, 2024 Kleopatra Finco S.A R.L. EUR400 mil 4.25% nts due 03/01/2026 17 12,199,000 B-/Negative B-/Stable No
Apr 23, 2024 Kleopatra Holdings 2 S.C.A. EUR300 mil 6.50% nts due 09/01/2026 14 6,892,000 B-/Negative B-/Stable No
Apr 22, 2024 Marcolin Spa EUR350 mil 6.125% callable nts due 11/15/2026 19 38,003,000 B/Stable B-/Stable Yes
Apr 17, 2024 The Chemours Company EUR515 mil fltg rate term b-3 bank ln due 08/18/2028 82 188,352,529 BB-/Negative BB-/Watch Neg Yes
Apr 17, 2024 Arvos Bidco S.A.R.L. EUR288.925 mil fltg rate First Lien TL B bank ln due 08/29/2021 21 53,908,957 B-/Stable D Yes
Apr 16, 2024 Aventiv Technologies, Llc US$1.382 bil fltg rate 1st lien Term Loan bank ln due 11/01/2024 2 6,743,709 CCC/Negative SD Yes
Apr 16, 2024 Vallourec EUR1.023 bil 8.50% Callable nts due 06/30/2026 7 21,350,000 BB+/Stable BB/Positive Yes
Apr 12, 2024 Phm Netherlands Midco B.V. EUR186 mil fltg rate 1st Lien Term bank ln due 07/31/2026 16 43,092,235 CCC+/Negative SD Yes
Apr 12, 2024 Compact Bidco B.V. EUR300 mil 5.75% callable nts due 05/01/2026 12 15,906,000 CCC-/Negative CCC+/Negative Yes
Apr 11, 2024 Atos Se EUR800 mil 1.00% callable Sustainability-Linked bnds due 11/12/2029 4 14,000,000 CCC-/Negative CCC/Negative Yes
Apr 09, 2024 Tele Columbus Ag EUR503.2 mil fltg rate TL B bank ln due 01/01/2029 83 185,341,531 CCC+/Negative D Yes
Apr 09, 2024 Oq Chemicals Holding Drei Gmbh EUR475 mil fltg rate Term Loan B-1 bank ln due 10/11/2024 due 10/11/2024 70 195,748,959 CCC-/Negative B/Watch Neg Yes
Apr 09, 2024 Tui Cruises Gmbh EUR300 mil nts 7 11,739,000 B+/Stable CCC+ Yes
Apr 05, 2024 Ardagh Metal Packaging Finance Plc EUR450 mil 2.00% nts due 09/01/2028 8 11,250,000 B-/Negative B/Stable Yes
Apr 05, 2024 Ardagh Metal Packaging Finance Plc EUR500 mil 3.00% nts due 09/01/2029 18 19,050,000 B-/Negative B/Stable Yes
Apr 05, 2024 Cgg EUR585 mil 7.75% callable nts due 04/01/2027 14 33,270,000 B-/Stable CCC+/Positive Yes
Apr 05, 2024 Ard Finance S.A. EUR1 bil 5.00% nts due 06/30/2027 2 3,592,000 B-/Negative B/Stable Yes
Apr 02, 2024 Ontex Group N.V. EUR580 mil 3.50% callable nts due 07/15/2026 10 17,603,000 B/Stable B/Negative No
Apr 01, 2024 Geo Group (The) Inc. US$857.18 mil fltg rate tranche 1 exchange term bank ln due 03/23/2027 1 3,652,353 B/Watch Pos B/Stable Yes
Mar 29, 2024 Granite France Bidco Sas EUR1.10 bil fltg rate TL B bank ln due 10/17/2028 199 476,056,712 B/Negative B/Stable No
Mar 29, 2024 Aventiv Technologies, Llc US$1.382 bil fltg rate 1st lien Term Loan bank ln due 11/01/2024 2 6,852,205 SD CC/Negative Yes
Mar 29, 2024 La Financiere Atalian Sa EUR625 mil 4.00% nts due 05/15/2024 3 3,858,000 D CC/Negative Yes
Mar 29, 2024 La Financiere Atalian Sa EUR350 mil 5.125% nts due 05/15/2025 2 4,000,000 D CC/Negative Yes
Mar 28, 2024 Altice France S.A. EUR1.15 bil TL B11 bank ln due 07/31/2025 38 77,596,191 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR1 bil EUR TL B12 bank ln due 01/31/2026 25 69,111,466 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR1 bil 5.875% callable nts due 02/01/2027 18 18,370,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR1 bil 3.375% callable bnds due 01/15/2028 64 117,419,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR550 mil 2.50% callable nts due 01/15/2025 4 5,605,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR500 mil 2.125% nts due 02/15/2025 14 12,570,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR500 mil 4.125% callable nts due 01/15/2029 56 96,245,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR400 mil 4.00% callable nts due 07/15/2029 53 79,802,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR800 mil 4.25% callable nts due 10/15/2029 149 290,313,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR0 mil term loan bank ln 223 687,182,805 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Altice France S.A. EUR350 mil 11.50% nts due 02/01/2027 6 13,605,000 CCC+/Developing B-/Stable Yes
Mar 28, 2024 Samhallsbyggnadsbolaget I Norden Ab (Publ) EUR500 mil 1.75% nts due 01/14/2025 5 7,613,000 CCC/Negative SD Yes
Mar 28, 2024 Sbb Treasury Oyj EUR700 mil 0.75% med-term nts ser 23 due 12/14/2028 5 8,794,000 CCC/Negative SD Yes
Mar 28, 2024 Sbb Treasury Oyj EUR750 mil 1.125% callable Social med-term nts ser 27 due 11/26/2029 5 6,212,000 CCC/Negative SD Yes
*See paragraph 6 of our guidance "Global Methodology And Assumptions For CLOs And Corporate CDOs," published on June 21, 2019. N/A--Not available. Table does not include withdrawn ratings.

Table 2

Recovery actions on global nonfinancial corporations over the past 30 days
Date Obligor Asset No. of affected CLOs Total notional in CLOs (€) Recovery* Previous recovery
Apr 25, 2024 Tvl Finance Plc EUR250 mil fltg rate Callable nts due 04/28/2028 38 64,526,000.00 3(65%) 3(55%)
Apr 25, 2024 Geo Group (The) Inc. US$857.18 mil fltg rate tranche 1 exchange term bank ln due 03/23/2027 1 3,589,847.82 NR 1(95%)
Apr 25, 2024 La Financiere Atalian Sa EUR625 mil 4.00% nts due 05/15/2024 3 3,858,000.00 NR 4(30%)
Apr 25, 2024 La Financiere Atalian Sa EUR350 mil 5.125% nts due 05/15/2025 2 4,000,000.00 NR 4(30%)
Apr 24, 2024 Verisure Holding Ab EUR800 mil 3.875% callable nts due 07/15/2026 15 20,975,000.00 3(65%) 3(60%)
Apr 22, 2024 Hnvr Holdco Ltd. EUR760.286 mil fltg rate TLB bank ln due 09/12/2028 154 415,921,053.75 NR 3(55%)
Apr 22, 2024 Marcolin Spa EUR350 mil 6.125% callable nts due 11/15/2026 19 38,003,000.00 4(45%) 4(35%)
Apr 22, 2024 Hnvr Holdco Ltd. EUR147.31 mil fltg rate Term loan B bank ln due 09/12/2025 17 29,296,284.36 NR 3(55%)
Apr 22, 2024 Hnvr Holdco Ltd. EUR400 mil fltg rate Term Loan C bank ln due 09/12/2027 78 143,735,976.71 NR 3(55%)
Apr 17, 2024 Ct Investment Gmbh EUR470 mil 5.50% callable nts due 04/15/2026 20 25,125,000.00 NR 3(50%)
Apr 16, 2024 Douglas Finance Bv EUR130.272 mil fltg rate Term B1 bank ln due 03/26/2026 121 78,034,947.56 NR 3(60%)
Apr 16, 2024 Groupe Nocibe France S.A.S EUR230.312 mil fltg rate Term B4 bank ln due 03/26/2026 121 131,153,113.45 NR 3(60%)
Apr 16, 2024 Kirk Beauty Netherlands B.V. EUR74.921 mil TL B2 bank ln due 04/08/2026 120 42,094,358.15 NR 3(60%)
Apr 16, 2024 Nocibe France S.A.S. EUR51.181 mil fltg rate Facility B5 bank ln due 03/26/2026 121 29,024,243.46 NR 3(60%)
Apr 16, 2024 Parfumerie Douglas International Gmbh EUR188.313 mil TL B3 bank ln due 08/04/2026 124 120,591,216.57 NR 3(60%)
Apr 16, 2024 Douglas Gmbh EUR1.305 bil 6.00% nts due 04/08/2026 72 136,825,000.00 NR 3(60%)
Apr 16, 2024 Kirk Beauty Sun Gmbh EUR475 mil 9.00% callable nts due 10/01/2026 11 13,045,761.00 NR 6(0%)
Apr 16, 2024 Aventiv Technologies, Llc US$1.382 bil fltg rate 1st lien Term Loan bank ln due 11/01/2024 2 6,743,709.17 NR 3(55%)
Apr 15, 2024 Carnival Corp. EUR600 mil 1.00% nts due 10/28/2029 49 124,077,000.00 4(40%) 5(25%)
Apr 15, 2024 Carnival Corp. EUR500 mil 7.625% sr nts due 03/01/2026 3 1,400,000.00 3(60%) 4(45%)
Apr 12, 2024 Phm Netherlands Midco B.V. EUR186 mil fltg rate 1st Lien Term bank ln due 07/31/2026 16 43,092,234.60 6(0%) 3(60%)
Apr 12, 2024 Synthomer Plc EUR520 mil 3.875% nts due 07/01/2025 2 2,000,000.00 3(65%) 3(55%)
Apr 11, 2024 Telecom Italia Spa EUR1.25 bil 4.00% med-term nts ser 42 due 04/11/2024 4 12,274,000.00 NR 3(50%)
Apr 11, 2024 Ai Alpine At Bidco EUR322 mil fltg rate TL B2 bank ln due 11/02/2028 2 6,812,839.86 NR 3(60%)
Apr 09, 2024 Tele Columbus Ag EUR503.2 mil fltg rate TL B bank ln due 01/01/2029 83 185,341,530.83 3(55%) 3(65%)
Apr 09, 2024 Tendam Brands S.A.U. EUR300 mil fltg rate callable nts due 03/31/2028 44 29,673,236.36 NR 3(65%)
Apr 05, 2024 Ardagh Packaging Finance Plc EUR440 mil 2.125% nts due 08/15/2026 4 900,000.00 3(60%) 2(70%)
Apr 05, 2024 Ardagh Packaging Finance Plc EUR790 mil 2.125% callable nts due 08/15/2026 18 26,044,000.00 3(60%) 2(70%)
Apr 05, 2024 Nassa Topco As EUR400 mil 2.875% nts due 04/06/2024 5 13,500,000.00 NR 3(55%)
Apr 05, 2024 Ardagh Metal Packaging Finance Plc EUR500 mil 3.00% nts due 09/01/2029 18 19,050,000.00 4(30%) 3(50%)
Apr 04, 2024 Cgg EUR585 mil 7.75% callable nts due 04/01/2027 14 33,170,000.00 3(65%) 3(60%)
Apr 02, 2024 Volvo Car Ab EUR600 mil 2.125% callable nts ser 3 due 04/02/2024 1 400,000.00 NR 3(65%)
Apr 01, 2024 Ontex Group N.V. EUR580 mil 3.50% callable nts due 07/15/2026 10 17,603,000.00 3(65%) 3(55%)
Apr 01, 2024 Poseidon Bidco S.A.S. EUR1.05 bil fltg rate term b bank ln due 09/28/2028 6 18,000,000.00 NR 3(60%)
Mar 28, 2024 Sunshine Luxembourg Vii S.A R.L. EUR470 mil fltg rate Term Facility B4 bank ln due 09/25/2026 65 154,483,476.53 NR 3(65%)
Mar 28, 2024 Tcg Acquisitionco Bv EUR719.3 mil fltg rate Term B bank ln due 09/10/2028 86 198,387,515.14 NR 3(50%)
*See paragraph 14 of our guidance "Global Methodology And Assumptions For CLOs And Corporate CDOs," published on June 21, 2019. NR--Not rated.

Table 3

Interest coverage or par value test with less than 100 basis points difference between the result and test
CLO Latest report date Test type Test name Result Test Difference Pass/fail
Black Diamond CLO 2015-1 DAC Mar 22, 2024 IC Class E Interest Coverage Test 74.76% 101.00% -26.24% Fail
Accunia European CLO II DAC Feb 29, 2024 OC Class F Par Value Test 102.30% 104.63% -2.33% Fail
Man GLG Euro CLO III DAC Mar 08, 2024 OC Class F Par Value Test 102.58% 103.50% -0.92% Fail
Bain Capital Euro CLO 2017-1 DAC Mar 06, 2024 OC Class F Par Value Test 102.99% 103.53% -0.54% Fail
Carlyle Euro CLO 2013-1 DAC Mar 15, 2024 OC Class E Par Value Test 104.11% 104.40% -0.29% Fail
Barings Euro CLO 2018-1 DAC Feb 29, 2024 OC Class F Par Value Test 103.92% 104.11% -0.19% Fail
GLG Euro CLO IV DAC Mar 08, 2024 OC Class F Par Value Test 103.88% 104.00% -0.12% Fail
Carlyle Euro CLO 2018-1 DAC Mar 11, 2024 OC Class E Par Value Test 104.10% 104.00% 0.10% Pass
Carlyle Euro CLO 2017-3 DAC Mar 20, 2024 OC Class E Par Value Test 104.30% 104.10% 0.20% Pass
Dryden 29 Euro CLO 2013 DAC Feb 29, 2024 OC Class F Par Value Test 104.30% 103.49% 0.81% Pass
Segovia European CLO 4-2017 DAC Mar 06, 2024 OC Class F Par Value Test 104.63% 103.80% 0.83% Pass
Carlyle Euro CLO 2017-2 DAC Mar 15, 2024 OC Class E Par Value Test 104.58% 103.66% 0.92% Pass
Carlyle Euro CLO 2013-1 DAC Mar 15, 2024 OC Class D Par Value Test 107.37% 106.40% 0.97% Pass
Bp--Basis point. IC--Interest coverage. OC--Overcollateralization.

Chart 1

image

Chart 2

image

Table 4

European CLOs snapshot as of April 26, 2024
CLO Collateral manager Latest report date SPWARF 'BB-' and above (%) 'B-' (%) 'CCC' category Non-performing category (%) CreditWatch negative (%) Negative outlook (%)
AB Carval Euro CLO I-C DAC CarVal Mar 08, 2024 2,696 14.99 23.43 1.20 0.00 0.59 10.55
Accunia European CLO II DAC Accunia Feb 29, 2024 3,308 11.66 27.98 20.37 0.00 0.50 6.96
Accunia European CLO IV DAC Accunia Feb 29, 2024 3,099 8.32 29.47 10.98 0.00 1.45 10.26
Adagio IV CLO DAC AXA Feb 20, 2024 2,883 14.32 23.67 6.02 0.83 0.21 18.60
Adagio VI CLO DAC AXA Mar 20, 2024 2,943 16.04 25.65 6.80 1.09 0.40 17.16
Adagio X EUR CLO DAC AXA Feb 20, 2024 2,876 10.76 26.85 3.83 0.00 0.60 20.20
AlbaCore Euro CLO I DAC AlbaCore Mar 07, 2024 2,903 11.46 25.45 3.74 1.24 0.99 14.29
AlbaCore Euro CLO II DAC AlbaCore Mar 05, 2024 2,877 12.45 23.80 3.60 1.31 0.91 15.11
AlbaCore Euro CLO III DAC AlbaCore Mar 05, 2024 2,862 12.08 24.05 2.85 1.20 0.48 14.65
Albacore Euro CLO IV DAC AlbaCore Mar 15, 2024 2,848 11.58 24.28 2.68 1.06 0.39 15.58
Albacore Euro CLO V DAC AlbaCore Mar 15, 2024 2,778 12.30 25.40 1.67 0.00 0.56 14.54
Anchorage Capital Europe CLO 2 DAC Anchorage Mar 05, 2024 2,912 10.34 25.52 7.01 0.00 1.50 9.04
Anchorage Capital Europe CLO 2021-4 DAC Anchorage Mar 12, 2024 2,898 10.27 26.23 6.48 0.00 2.02 8.49
Anchorage Capital Europe CLO 3 DAC Anchorage Mar 11, 2024 2,913 10.44 25.84 6.98 0.00 1.64 9.07
Anchorage Capital Europe CLO 6 DAC Anchorage Mar 11, 2024 2,861 11.14 25.96 5.31 0.00 2.09 8.49
Anchorage Capital Europe CLO 8 DAC Anchorage Mar 05, 2024 2,889 9.53 25.66 5.90 0.00 1.58 8.11
Aqueduct European CLO 1-2017 DAC HPS Feb 29, 2024 2,931 14.60 29.64 8.61 0.00 2.55 11.67
Aqueduct European CLO 2-2017 DAC HPS Feb 29, 2024 2,901 16.21 26.37 11.05 0.00 0.63 13.76
Aqueduct European CLO 5-2020 DAC HPS Mar 07, 2024 2,831 12.70 25.98 4.96 0.00 0.31 12.21
Aqueduct European CLO 6-2021 DAC HPS Mar 28, 2024 2,895 9.45 30.56 3.28 0.00 0.74 11.03
Aqueduct European CLO 7-2022 DAC HPS Mar 05, 2024 2,885 9.96 33.62 2.27 0.00 0.33 11.62
Arbour CLO II DAC Oaktree Mar 28, 2024 2,827 16.72 24.80 5.50 0.66 0.49 16.18
Arbour CLO III DAC Oaktree Feb 29, 2024 2,880 13.83 24.34 5.49 1.24 0.59 15.83
Arbour CLO IV DAC Oaktree Feb 29, 2024 2,910 15.27 26.99 5.56 1.20 0.49 15.56
Arbour CLO IX DAC Oaktree Feb 29, 2024 2,811 13.91 25.70 5.04 0.00 0.49 15.85
Arbour CLO VII DAC Oaktree Feb 29, 2024 2,903 12.85 26.83 5.81 0.57 0.68 15.99
Arbour CLO XI DAC Oaktree Mar 28, 2024 2,954 8.35 32.17 3.91 0.00 0.00 13.05
Arbour CLO XII DAC Oaktree Mar 28, 2024 2,811 10.93 29.34 1.37 0.00 0.00 12.92
Ares European CLO IX DAC Ares Apr 02, 2024 3,083 13.16 26.68 11.94 0.76 0.38 19.75
Ares European CLO VI DAC Ares Mar 12, 2024 2,557 28.42 16.61 7.63 0.00 1.12 19.03
Ares European CLO VII DAC Ares Mar 12, 2024 2,881 16.54 24.78 9.49 0.60 1.06 16.08
Ares European CLO VIII DAC Ares Mar 06, 2024 3,020 7.06 24.86 6.84 0.53 0.35 16.73
Ares European CLO XIII DAC Ares Mar 06, 2024 3,068 7.09 28.24 7.03 0.50 0.25 15.66
Ares European CLO XIV DAC Ares Mar 06, 2024 3,078 7.68 29.22 7.56 0.84 0.36 17.74
Ares European CLO XVI DAC Ares Mar 05, 2024 3,099 4.33 31.34 6.04 0.73 0.00 15.56
Ares European CLO XVII DAC Ares Mar 12, 2024 2,958 4.08 29.22 1.22 0.00 0.00 11.70
Arini European CLO I DAC Squarepoint Mar 28, 2024 2,740 13.38 19.03 3.20 0.00 0.99 9.38
Armada Euro CLO I DAC Brigade Mar 15, 2024 2,785 11.05 20.50 5.16 0.00 1.25 13.27
Armada Euro CLO IV DAC Brigade Mar 15, 2024 2,769 12.52 20.18 4.93 0.00 1.63 14.85
Armada Euro CLO V DAC Brigade Mar 15, 2024 2,764 8.58 18.65 4.38 0.00 1.60 16.72
Aurium CLO I DAC Spire Feb 29, 2024 2,744 16.42 24.64 3.76 0.00 1.64 11.11
Aurium CLO II DAC Spire Mar 13, 2024 2,776 16.50 25.33 4.39 0.00 1.68 11.40
Aurium CLO III DAC Spire Feb 29, 2024 2,547 27.21 23.06 4.14 0.00 2.35 12.55
Aurium CLO IV DAC Spire Feb 29, 2024 2,723 20.16 24.80 4.19 0.00 1.62 12.85
Aurium CLO IX DAC Spire Feb 29, 2024 2,816 12.56 26.66 2.31 0.00 1.45 10.20
Aurium CLO V DAC Spire Mar 07, 2024 2,757 16.00 23.91 3.66 0.00 1.48 11.47
Aurium CLO VI DAC Spire Feb 29, 2024 2,764 16.12 24.60 3.81 0.00 1.47 11.69
Aurium CLO VII DAC Spire Mar 07, 2024 2,772 15.48 25.11 3.47 0.00 1.61 10.70
Aurium CLO VIII DAC Spire Mar 14, 2024 2,748 16.30 24.69 3.47 0.00 1.01 12.34
Aurium CLO X DAC Spire Feb 29, 2024 2,776 13.67 26.42 1.96 0.00 1.48 9.61
Aurium CLO XI DAC Spire Feb 20, 2024 2,773 12.90 25.29 1.34 0.00 0.92 9.49
Avoca CLO XI DAC KKR Feb 29, 2024 2,871 12.90 25.79 7.15 0.37 0.84 16.80
Avoca CLO XIV Ltd. KKR Feb 29, 2024 2,784 15.28 25.50 4.94 0.00 1.27 14.41
Avoca CLO XVII DAC KKR Feb 29, 2024 2,834 10.15 24.57 3.50 0.00 0.18 13.47
Avoca CLO XVIII DAC KKR Feb 29, 2024 2,806 14.06 31.22 4.32 0.20 1.56 13.55
Avoca CLO XXI DAC KKR Feb 29, 2024 2,870 10.43 27.05 3.93 0.00 0.15 14.37
Avoca CLO XXII DAC KKR Feb 29, 2024 2,849 10.87 27.10 2.83 0.00 0.41 14.70
Avoca CLO XXIII DAC KKR Mar 28, 2024 2,871 8.97 27.50 2.29 0.00 0.30 14.94
Avoca CLO XXIV DAC KKR Feb 29, 2024 2,865 9.50 26.63 3.22 0.00 0.20 14.71
Avoca CLO XXVIII DAC KKR Feb 29, 2024 2,900 6.37 25.60 2.78 0.00 0.00 13.68
Avondale Park CLO DAC Blackstone Mar 07, 2024 2,855 10.17 25.77 3.88 0.24 1.43 12.81
BBAM European CLO I DAC BlueBay Mar 11, 2024 2,823 10.15 17.73 3.48 0.81 0.25 8.57
BBAM European CLO II DAC BlueBay Mar 11, 2024 2,839 10.18 18.04 3.85 0.81 0.18 8.35
Bain Capital Euro CLO 2017-1 DAC Bain Mar 06, 2024 3,005 17.96 27.10 10.70 1.93 3.52 21.20
Bain Capital Euro CLO 2019-1 DAC Bain Apr 03, 2024 2,845 12.86 23.24 4.86 0.72 0.94 15.26
Bain Capital Euro CLO 2020-1 DAC Bain Mar 06, 2024 2,947 11.08 23.30 4.58 1.82 0.87 16.89
Bain Capital Euro CLO 2021-1 DAC Bain Mar 06, 2024 2,981 11.30 24.06 4.58 2.14 1.61 15.75
Bain Capital Euro CLO 2021-2 DAC Bain Mar 06, 2024 2,994 10.24 25.91 4.00 2.02 0.94 15.11
Bain Capital Euro CLO 2022-1 DAC Bain Mar 06, 2024 2,883 10.64 25.26 4.19 0.61 0.83 16.62
Bain Capital Euro CLO 2022-2 DAC Bain Mar 11, 2024 2,854 8.71 25.62 3.37 0.00 0.69 15.00
Bain Capital Euro CLO 2023-1 DAC Bain Mar 08, 2024 2,803 10.61 25.10 2.45 0.00 0.52 14.67
Barings Euro CLO 2018-1 DAC Barings Feb 29, 2024 3,110 13.37 26.67 16.41 0.70 2.34 15.63
Barings Euro CLO 2020-1 DAC Barings Mar 11, 2024 2,827 15.39 24.81 4.41 1.17 1.22 15.23
Barings Euro CLO 2021-1 DAC Barings Mar 13, 2024 2,889 13.88 26.08 4.71 1.28 1.03 14.75
Barings Euro CLO 2021-2 DAC Barings Mar 05, 2024 2,846 15.93 25.86 3.99 1.27 1.08 15.79
Barings Euro CLO 2023-1 DAC Barings Mar 19, 2024 2,694 15.74 21.75 3.22 0.00 1.40 12.30
Barings Euro CLO 2023-2 DAC Barings Mar 07, 2024 2,758 15.38 24.76 3.67 0.00 1.50 16.27
Bastille Euro CLO 2020-3 DAC CELF Mar 05, 2024 3,088 8.17 31.81 4.74 1.40 0.00 15.31
Bilbao CLO III DAC Guggenheim Mar 06, 2024 3,021 3.83 34.11 4.81 0.00 0.82 11.36
Bilbao CLO IV DAC Guggenheim Mar 06, 2024 2,933 4.67 31.06 2.55 0.00 0.74 11.61
Black Diamond CLO 2015-1 DAC Black Diamond Mar 22, 2024 3,659 0.00 0.00 30.16 3.68 0.00 0.00
Black Diamond CLO 2017-2 DAC Black Diamond Mar 12, 2024 3,029 12.40 21.96 10.62 0.43 1.44 16.69
Black Diamond CLO 2019-1 DAC Black Diamond Mar 12, 2024 2,975 9.47 22.96 8.21 0.25 0.76 13.18
BlackRock European CLO I DAC BlackRock Mar 05, 2024 2,867 17.49 29.00 8.71 0.20 1.56 15.16
BlackRock European CLO II DAC BlackRock Mar 05, 2024 2,790 14.32 22.61 5.25 0.16 0.96 11.23
BlackRock European CLO III DAC BlackRock Mar 06, 2024 2,804 14.75 23.70 5.29 0.16 1.11 11.25
BlackRock European CLO IV DAC BlackRock Mar 11, 2024 2,711 21.14 23.08 7.04 0.18 1.66 14.52
BlackRock European CLO IX DAC BlackRock Mar 05, 2024 2,818 13.84 24.62 5.23 0.16 1.24 12.75
BlackRock European CLO X DAC BlackRock Mar 20, 2024 2,791 14.42 22.85 5.34 0.00 0.93 13.16
BlackRock European CLO XI DAC BlackRock Mar 11, 2024 2,785 13.38 22.71 5.64 0.00 0.99 13.16
BlackRock European CLO XII DAC BlackRock Mar 06, 2024 2,807 13.42 23.86 4.68 0.00 0.99 13.54
Blackrock European CLO XIII DAC BlackRock Mar 15, 2024 2,785 13.82 23.68 4.48 0.00 1.25 12.69
Blackrock European CLO XIV DAC BlackRock Mar 11, 2024 2,752 12.87 24.16 2.06 0.00 1.13 9.93
BlueMountain EUR 2021-1 CLO DAC Sound Point Mar 07, 2024 2,867 12.85 32.81 2.01 0.00 0.29 16.67
BlueMountain EUR 2021-2 CLO DAC Sound Point Feb 07, 2024 2,891 13.13 32.11 3.52 0.00 0.43 16.23
BlueMountain EUR CLO 2016-1 DAC Sound Point Feb 29, 2024 2,977 10.68 33.95 7.70 0.00 0.48 18.73
BlueMountain Fuji EUR CLO II DAC Sound Point Mar 11, 2024 2,990 13.25 32.79 9.09 0.00 0.98 18.20
BlueMountain Fuji EUR CLO IV DAC Sound Point Mar 07, 2024 2,880 11.51 32.31 2.42 0.00 0.00 15.24
BlueMountain Fuji EUR CLO V DAC Sound Point Mar 11, 2024 2,834 14.23 32.81 1.12 0.00 0.00 15.37
Bosphorus CLO VI DAC Cross Ocean Feb 29, 2024 2,803 13.25 26.38 3.18 0.00 0.55 17.49
Bridgepoint CLO 1 DAC Bridgepoint Mar 05, 2024 2,897 6.70 25.11 4.75 0.00 1.09 13.97
Bridgepoint CLO 2 DAC Bridgepoint Mar 05, 2024 2,899 6.99 24.31 5.89 0.00 1.24 10.57
Bridgepoint CLO IV DAC Bridgepoint Mar 11, 2024 2,965 5.47 22.91 6.57 0.00 0.00 10.06
Bridgepoint CLO V DAC Bridgepoint Mar 05, 2024 2,892 6.14 28.55 2.43 0.00 0.00 7.74
Bushy Park CLO DAC Blackstone Mar 12, 2024 2,886 7.84 28.64 1.87 0.24 1.33 13.14
CVC Cordatus Loan Fund IV DAC CVC Feb 09, 2024 2,985 11.58 29.02 3.92 1.70 0.23 13.17
CVC Cordatus Loan Fund IX DAC CVC Feb 07, 2024 2,984 12.98 27.24 4.87 1.67 0.71 14.68
CVC Cordatus Loan Fund V DAC CVC Feb 29, 2024 2,875 18.58 22.55 6.35 1.60 0.00 13.94
CVC Cordatus Loan Fund VIII DAC CVC Feb 29, 2024 2,988 12.34 24.11 5.12 2.11 0.39 14.90
CVC Cordatus Loan Fund X DAC CVC Feb 29, 2024 2,828 18.75 23.47 5.03 1.59 0.00 14.83
CVC Cordatus Loan Fund XIX DAC CVC Mar 13, 2024 2,979 11.14 28.92 2.87 1.85 0.40 13.55
CVC Cordatus Loan Fund XVI DAC CVC Mar 06, 2024 3,002 10.48 28.29 4.40 1.44 0.00 13.55
CVC Cordatus Loan Fund XVII DAC CVC Feb 07, 2024 2,999 10.72 28.97 3.97 1.44 0.19 13.69
CVC Cordatus Loan Fund XVIII DAC CVC Feb 16, 2024 3,005 10.56 28.32 4.43 1.45 0.00 13.52
CVC Cordatus Loan Fund XX DAC CVC Mar 12, 2024 3,025 9.31 31.22 3.41 1.52 0.00 14.39
CVC Cordatus Loan Fund XXI DAC CVC Mar 12, 2024 3,051 8.27 28.58 3.56 1.72 0.25 15.11
CVC Cordatus Loan Fund XXIV DAC CVC Mar 07, 2024 2,997 7.21 36.81 3.26 0.00 0.00 16.03
CVC Cordatus Loan Fund XXIX DAC CVC Mar 11, 2024 2,974 8.20 33.44 1.82 0.87 0.00 11.54
CVC Cordatus Loan Fund XXV DAC CVC Mar 11, 2024 2,969 7.53 31.39 3.17 0.00 0.00 13.36
CVC Cordatus Loan Fund XXVI DAC CVC Mar 15, 2024 2,962 8.92 33.68 2.30 0.48 0.00 12.96
CVC Cordatus Loan Fund XXVII DAC CVC Mar 11, 2024 2,884 8.71 26.42 1.80 0.22 0.00 12.43
CVC Cordatus Loan Fund XXVIII DAC CVC Mar 11, 2024 2,984 5.97 28.45 2.89 0.52 0.00 10.68
Cairn CLO VIII DAC Cairn Mar 20, 2024 2,848 16.60 30.71 6.65 0.00 0.31 19.04
Cairn CLO XI DAC Cairn Mar 05, 2024 3,004 11.21 32.48 5.29 1.08 0.00 13.68
Cairn CLO XIV DAC Cairn Feb 15, 2024 2,895 9.98 31.32 3.80 0.00 0.49 19.42
Cairn CLO XVI DAC Cairn Mar 01, 2024 2,654 14.17 22.38 0.87 0.00 0.00 13.74
Cairn CLO XVII DAC Cairn Mar 15, 2024 2,704 13.73 23.01 1.59 0.00 0.00 13.19
Canyon Euro CLO 2022-1 DAC Canyon Apr 03, 2024 2,710 13.92 20.38 2.69 0.00 1.22 8.58
Capital Four CLO I DAC Capital Four Feb 29, 2024 2,873 11.30 28.32 5.88 0.06 0.73 12.27
Capital Four CLO II DAC Capital Four Feb 29, 2024 2,856 11.73 29.11 4.38 0.06 1.03 12.52
Capital Four CLO III DAC Capital Four Feb 29, 2024 2,848 8.96 25.55 4.32 0.06 0.00 11.94
Capital Four CLO IV DAC Capital Four Feb 29, 2024 2,859 10.64 29.46 3.81 0.05 0.00 11.53
Capital Four CLO V DAC Capital Four Feb 09, 2024 2,895 7.99 30.34 3.09 0.00 0.99 12.44
Capital Four CLO VI DAC Capital Four Mar 11, 2024 2,846 7.93 25.92 2.51 0.00 0.84 10.77
Carlyle Euro CLO 2013-1 DAC CELF Mar 15, 2024 2,925 15.28 21.10 6.41 2.21 0.32 20.05
Carlyle Euro CLO 2017-1 DAC CELF Mar 15, 2024 3,076 9.07 24.36 6.77 1.86 0.00 19.17
Carlyle Euro CLO 2017-2 DAC CELF Mar 15, 2024 3,013 13.13 24.35 7.99 1.29 1.93 17.04
Carlyle Euro CLO 2017-3 DAC CELF Mar 20, 2024 3,000 11.39 27.04 5.73 1.71 0.00 18.42
Carlyle Euro CLO 2018-1 DAC CELF Mar 11, 2024 2,979 15.57 22.35 5.78 2.62 0.81 20.02
Carlyle Euro CLO 2019-2 DAC CELF Mar 19, 2024 3,135 5.28 27.94 5.16 1.97 0.00 17.21
Carlyle Euro CLO 2020-1 DAC CELF Apr 03, 2024 3,020 7.93 25.86 4.92 1.21 0.00 16.36
Carlyle Euro CLO 2020-2 DAC CELF Mar 19, 2024 3,065 8.22 28.51 5.71 1.36 0.00 13.60
Carlyle Euro CLO 2021-1 DAC CELF Mar 19, 2024 3,120 7.40 25.52 5.56 2.26 0.00 13.73
Carlyle Euro CLO 2021-3 DAC CELF Mar 12, 2024 3,236 6.31 30.07 5.97 3.00 0.00 17.45
Carlyle Euro CLO 2022-3 DAC CELF Mar 08, 2024 3,012 6.13 29.47 3.30 0.60 0.00 13.29
Carlyle Euro CLO 2022-5 DAC CELF Mar 20, 2024 3,036 7.63 31.10 4.17 0.56 0.00 13.93
Carlyle Global Market Strategies Euro CLO 2015-1 DAC CELF Mar 19, 2024 3,035 7.47 26.26 5.77 1.36 0.00 16.84
Carlyle Global Market Strategies Euro CLO 2015-3 DAC CELF Mar 20, 2024 3,040 13.90 26.36 6.73 2.18 1.10 18.72
Carlyle Global Market Strategies Euro CLO 2016-2 DAC CELF Mar 15, 2024 3,025 8.94 26.31 6.78 1.21 0.00 17.16
Carysfort Park CLO DAC Blackstone Feb 20, 2024 2,832 11.40 27.29 3.40 0.24 1.08 14.35
Clarinda Park CLO DAC Blackstone Mar 15, 2024 2,875 11.02 28.95 3.53 0.24 1.47 14.07
Clonmore Park CLO DAC Blackstone Mar 12, 2024 2,986 4.93 29.10 3.00 0.27 1.03 14.56
Clontarf Park CLO DAC Blackstone Mar 11, 2024 3,295 12.49 28.94 14.16 3.67 3.19 21.13
Contego CLO IV DAC Five Arrows Feb 29, 2024 3,041 6.30 33.14 5.89 0.00 1.06 13.36
Contego CLO IX DAC Five Arrows Feb 29, 2024 3,046 5.28 34.19 4.89 0.00 0.90 12.87
Contego CLO VII DAC Five Arrows Feb 29, 2024 2,982 8.30 30.70 5.42 0.00 0.89 11.76
Contego CLO VIII DAC Five Arrows Mar 15, 2024 2,984 6.42 30.56 5.05 0.00 0.83 11.91
Contego CLO X DAC Five Arrows Feb 29, 2024 3,039 4.05 34.22 3.55 0.00 0.63 13.14
Contego CLO XI DAC Five Arrows Feb 29, 2024 2,935 6.06 30.98 2.38 0.00 0.53 10.91
Contego CLO XII DAC Five Arrows Feb 29, 2024 2,935 5.16 29.85 2.22 0.00 0.49 11.80
Crosthwaite Park CLO DAC Blackstone Mar 05, 2024 2,848 11.36 27.32 4.06 0.00 2.24 14.19
Dartry Park CLO DAC Blackstone Mar 15, 2024 2,863 10.05 27.53 3.65 0.24 1.06 14.45
Deer Park CLO DAC Blackstone Feb 20, 2024 2,877 11.75 28.02 2.98 0.55 1.53 11.44
Dillons Park CLO DAC Blackstone Feb 20, 2024 2,924 7.91 26.72 4.39 0.24 0.79 13.10
Dryden 103 Euro CLO 2021 DAC PGIM Feb 29, 2024 2,933 8.11 32.52 4.67 0.00 0.00 12.46
Dryden 27 R Euro CLO 2017 DAC PGIM Feb 29, 2024 3,064 12.93 30.22 7.28 1.58 0.00 15.91
Dryden 29 Euro CLO 2013 DAC PGIM Feb 29, 2024 3,032 16.55 23.75 9.38 2.25 0.00 11.55
Dryden 35 Euro CLO 2014 DAC PGIM Feb 29, 2024 2,972 10.62 28.44 5.97 1.22 0.00 11.96
Dryden 39 Euro CLO 2015 DAC PGIM Feb 29, 2024 2,955 10.68 27.92 6.60 0.81 0.00 11.23
Dryden 44 Euro CLO 2015 DAC PGIM Feb 29, 2024 2,942 9.00 30.37 6.90 0.11 0.00 11.58
Dryden 46 Euro CLO 2016 DAC PGIM Feb 29, 2024 2,942 10.54 28.45 6.46 0.63 0.00 10.30
Dryden 48 Euro CLO 2016 DAC PGIM Feb 29, 2024 3,045 8.41 30.34 7.01 1.12 0.00 13.73
Dryden 51 Euro CLO 2017 DAC PGIM Feb 29, 2024 2,991 17.13 27.11 8.47 1.51 0.00 9.97
Dryden 52 Euro CLO 2017 DAC PGIM Feb 29, 2024 3,030 14.04 31.59 8.27 0.97 0.00 15.25
Dryden 56 Euro CLO 2017 DAC PGIM Feb 29, 2024 3,042 15.74 22.80 8.09 2.56 0.13 12.73
Dryden 73 Euro CLO 2018 DAC PGIM Feb 29, 2024 2,987 10.32 28.73 5.64 1.33 0.00 10.84
Dryden 74 Euro CLO 2020 DAC PGIM Feb 29, 2024 3,005 6.45 31.11 6.98 0.02 0.00 11.82
Dryden 88 Euro CLO 2020 DAC PGIM Feb 29, 2024 2,966 7.85 28.83 7.31 0.00 0.00 15.35
Dryden 89 Euro CLO 2020 DAC PGIM Feb 29, 2024 3,031 5.20 30.17 8.63 0.00 0.00 14.33
Dryden 96 Euro CLO 2021 DAC PGIM Feb 29, 2024 2,911 8.80 30.27 5.35 0.00 0.00 10.96
Dunedin Park CLO DAC Blackstone Mar 15, 2024 2,873 11.59 26.70 4.18 0.30 1.29 12.73
Edmondstown Park CLO DAC Blackstone Feb 12, 2024 2,884 7.45 26.89 3.00 0.00 0.60 12.64
Elm Park CLO DAC Blackstone Feb 15, 2024 2,840 11.05 26.25 3.96 0.00 1.54 14.65
Euro-Galaxy III CLO DAC PineBridge Mar 05, 2024 2,826 13.83 24.81 5.01 0.00 1.14 11.09
Euro-Galaxy IV CLO DAC PineBridge Mar 15, 2024 2,833 12.45 22.51 5.45 0.00 0.27 12.18
Euro-Galaxy V CLO DAC PineBridge Mar 05, 2024 2,845 13.38 23.13 6.66 0.00 0.76 12.00
Fair Oaks Loan Funding I DAC Fair Oaks Apr 03, 2024 2,694 13.06 19.60 3.35 0.00 1.00 12.29
Fair Oaks Loan Funding II DAC Fair Oaks Apr 03, 2024 2,738 13.90 22.36 3.98 0.00 0.43 11.86
Fair Oaks Loan Funding III DAC Fair Oaks Apr 03, 2024 2,668 15.13 19.29 2.82 0.00 0.57 10.73
Fidelity Grand Harbour CLO 2023-1 DAC FIL Mar 05, 2024 2,857 11.12 29.07 2.65 0.00 0.00 12.62
GLG Euro CLO IV DAC GLG Mar 08, 2024 2,809 14.79 28.47 4.77 0.00 0.85 8.54
Glenbrook Park CLO DAC Blackstone Mar 08, 2024 2,888 7.40 28.20 1.77 0.00 1.49 14.02
GoldenTree Loan Management EUR CLO 3 DAC GoldenTree Mar 15, 2024 2,743 17.50 24.03 3.88 0.22 1.48 10.77
GoldenTree Loan Management EUR CLO 4 DAC GoldenTree Mar 15, 2024 2,715 17.86 24.91 3.55 0.00 1.34 11.70
GoldenTree Loan Management EUR CLO 5 DAC GoldenTree Mar 15, 2024 2,742 16.41 24.97 3.58 0.00 1.67 11.53
GoldenTree Loan Management EUR CLO 6 DAC GoldenTree Mar 15, 2024 2,714 16.99 25.94 2.58 0.00 1.06 12.09
Grosvenor Place CLO 2022-1 DAC CQS Mar 15, 2024 2,769 11.63 27.21 1.75 0.00 0.00 9.52
Harvest CLO VII DAC Investcorp Feb 29, 2024 4,191 0.00 43.66 56.34 0.00 0.00 4.79
Harvest CLO VIII DAC Investcorp Feb 29, 2024 2,892 15.18 24.37 8.54 0.00 0.70 20.11
Harvest CLO XI DAC Investcorp Mar 15, 2024 2,798 19.14 24.63 6.88 0.00 0.62 20.20
Harvest CLO XVII DAC Investcorp Feb 29, 2024 2,990 8.10 25.14 5.22 0.93 0.00 15.86
Harvest CLO XVIII DAC Investcorp Feb 29, 2024 2,901 14.74 23.14 9.54 0.00 1.40 21.48
Harvest CLO XXII DAC Investcorp Feb 29, 2024 2,959 7.83 27.92 2.94 0.93 0.00 14.82
Harvest CLO XXIII DAC Investcorp Feb 29, 2024 2,989 7.41 28.63 2.95 0.97 0.00 15.39
Harvest CLO XXIX DAC Investcorp Mar 08, 2024 2,902 6.65 27.79 1.87 0.00 0.00 16.04
Harvest CLO XXV DAC Investcorp Mar 11, 2024 2,962 7.83 26.59 2.50 0.92 0.00 16.28
Harvest CLO XXVI DAC Investcorp Feb 29, 2024 2,977 7.78 26.75 2.94 0.82 0.00 15.94
Harvest CLO XXX DAC Investcorp Mar 08, 2024 2,850 6.90 24.67 0.85 0.00 0.00 16.22
Harvest CLO XXXI DAC Investcorp Mar 08, 2024 2,823 8.63 23.64 1.47 0.00 0.00 14.25
Hayfin Emerald CLO IV DAC Hayfin Mar 05, 2024 2,980 12.58 28.48 4.71 1.70 0.88 12.63
Hayfin Emerald CLO IX DAC Hayfin Mar 15, 2024 2,938 12.75 26.10 4.34 1.73 0.00 12.28
Hayfin Emerald CLO V DAC Hayfin Mar 15, 2024 2,981 12.98 31.15 3.78 1.73 0.54 12.71
Hayfin Emerald CLO VI DAC Hayfin Mar 15, 2024 2,973 13.13 29.05 4.68 1.73 0.69 11.54
Hayfin Emerald CLO VII DAC Hayfin Mar 05, 2024 3,000 12.80 29.24 4.68 1.94 1.14 10.87
Hayfin Emerald CLO VIII DAC Hayfin Mar 15, 2024 2,983 13.20 27.03 4.83 1.72 0.46 12.45
Hayfin Emerald CLO X DAC Hayfin Feb 02, 2024 2,951 12.26 29.39 2.76 1.77 0.44 11.49
Hayfin Emerald CLO XI DAC Hayfin Mar 05, 2024 2,809 10.60 28.88 1.99 0.00 1.00 10.47
Henley CLO I DAC Napier Park Mar 15, 2024 2,944 7.32 33.16 1.89 0.00 0.00 7.36
Henley CLO II DAC Napier Park Mar 15, 2024 3,005 3.64 34.10 1.53 0.00 0.12 9.86
Henley CLO III DAC Napier Park Mar 15, 2024 2,999 5.01 34.22 2.11 0.00 0.00 9.90
Henley CLO IV DAC Napier Park Mar 15, 2024 2,963 5.76 33.35 2.00 0.00 0.99 8.54
Henley CLO V DAC Napier Park Mar 15, 2024 2,975 3.89 30.74 2.02 0.00 0.00 8.17
Henley CLO VI DAC Napier Park Mar 15, 2024 3,009 5.03 32.90 2.20 0.00 0.00 9.00
Henley CLO VII DAC Napier Park Mar 15, 2024 2,916 6.30 29.33 1.58 0.00 0.00 10.11
Holland Park CLO DAC Blackstone Mar 20, 2024 2,830 12.64 27.76 3.59 0.00 1.45 13.26
ICG Euro CLO 2021-1 DAC Intermediate Mar 07, 2024 3,026 7.94 29.03 4.20 1.49 0.24 12.79
ICG Euro CLO 2022-1 DAC Intermediate Mar 15, 2024 3,076 7.99 28.52 5.00 1.70 0.76 15.47
ICG Euro CLO 2023-1 DAC Intermediate Mar 12, 2024 3,015 6.49 26.86 6.69 0.47 0.10 17.44
ICG Euro CLO 2023-2 DAC Intermediate Feb 21, 2024 2,957 7.82 28.56 4.03 0.48 0.72 14.72
Indigo Credit Management I DAC Pemberton Mar 11, 2024 2,287 26.71 1.70 0.00 0.00 0.00 11.58
Invesco Euro CLO II DAC Invesco Mar 15, 2024 2,958 14.71 27.56 7.13 1.37 0.00 22.62
Invesco Euro CLO III DAC Invesco Mar 15, 2024 2,961 14.05 26.84 6.70 1.37 0.00 20.13
Invesco Euro CLO IV DAC Invesco Mar 15, 2024 2,929 14.58 24.61 7.35 1.13 0.00 18.07
Invesco Euro CLO IX DAC Invesco Mar 15, 2024 2,849 14.18 26.47 5.44 0.00 0.00 16.65
Invesco Euro CLO Issuer X DAC Invesco Mar 15, 2024 2,791 16.83 25.65 4.41 0.00 0.00 20.43
Invesco Euro CLO VI DAC Invesco Mar 15, 2024 2,972 14.41 25.51 7.14 1.58 0.00 22.02
Invesco Euro CLO XI DAC Invesco Mar 15, 2024 2,876 13.69 24.08 4.29 0.72 0.00 19.18
Jubilee CLO 2013-X DAC Alcentra Mar 05, 2024 2,828 14.57 30.15 3.89 0.00 0.00 12.86
Jubilee CLO 2014-XI DAC Alcentra Mar 05, 2024 2,828 18.61 27.70 8.09 0.00 0.63 13.82
Jubilee CLO 2017-XIX DAC Alcentra Mar 05, 2024 2,833 17.08 31.69 4.79 0.00 0.44 15.59
Jubilee CLO 2019-XXII DAC Alcentra Mar 08, 2024 2,791 17.49 28.75 3.84 0.00 0.96 14.83
Jubilee CLO 2019-XXIII DAC Alcentra Mar 08, 2024 2,850 13.99 29.81 4.04 0.00 0.24 14.97
Jubilee CLO 2020-XXIV DAC Alcentra Mar 08, 2024 2,803 12.59 28.04 2.99 0.00 0.32 15.17
Jubilee CLO 2023-XXVII DAC Alcentra Mar 08, 2024 2,872 10.59 31.81 2.25 0.00 0.00 14.73
MV Credit Euro CLO III DAC MV Mar 15, 2024 2,731 9.50 13.39 0.59 0.00 0.00 15.42
Madison Park Euro Funding IX DAC Credit Suisse Mar 06, 2024 2,879 12.51 20.47 5.46 1.46 0.84 10.39
Madison Park Euro Funding VIII DAC Credit Suisse Mar 20, 2024 2,936 11.81 21.48 5.43 1.73 0.00 13.36
Madison Park Euro Funding X DAC Credit Suisse Feb 12, 2024 2,857 20.83 22.00 7.68 1.57 0.81 12.61
Madison Park Euro Funding XIX DAC Credit Suisse Mar 20, 2024 2,865 7.14 22.39 3.56 0.00 0.00 10.13
Madison Park Euro Funding XV DAC Credit Suisse Mar 20, 2024 2,942 12.87 25.38 5.63 1.41 0.06 13.85
Madison Park Euro Funding XVI DAC Credit Suisse Feb 20, 2024 2,861 12.31 21.88 4.72 1.08 0.86 11.10
Madison Park Euro Funding XVII DAC Credit Suisse Feb 20, 2024 2,995 9.54 22.55 6.09 1.68 0.15 12.70
Man Euro CLO 2023-1 DAC GLG Mar 08, 2024 2,737 10.24 23.90 0.57 0.00 0.54 8.68
Man GLG Euro CLO III DAC GLG Mar 08, 2024 2,865 16.37 25.88 8.03 0.00 0.36 12.04
Man GLG Euro CLO VI DAC GLG Mar 08, 2024 2,839 13.94 26.25 5.88 0.00 1.69 12.92
Margay CLO I DAC M&G Mar 15, 2024 2,631 16.55 17.62 1.59 0.00 0.77 12.02
Marino Park CLO DAC Blackstone Feb 20, 2024 2,924 10.86 29.98 3.64 0.60 1.72 17.02
Montmartre Euro CLO 2020-2 DAC CELF Mar 05, 2024 3,011 9.58 29.30 4.05 1.37 0.00 14.47
Nassau Euro CLO III DAC NCC Mar 07, 2024 2,766 9.87 19.08 1.09 0.00 0.00 14.59
Neuberger Berman Loan Advisers Euro CLO 1 DAC Neuberger Berman Mar 15, 2024 2,776 10.46 21.93 2.43 0.00 0.90 10.79
Neuberger Berman Loan Advisers Euro CLO 2 DAC Neuberger Berman Mar 19, 2024 2,788 9.23 22.52 2.61 0.00 0.50 11.34
Neuberger Berman Loan Advisers Euro CLO 3 DAC Neuberger Berman Mar 19, 2024 2,789 9.32 20.65 2.69 0.00 0.82 12.72
Neuberger Berman Loan Advisers Euro CLO 5 DAC Neuberger Berman Mar 19, 2024 2,730 10.86 20.60 1.69 0.00 0.82 11.99
Newhaven CLO DAC Bain Mar 06, 2024 3,038 13.75 23.63 4.12 3.48 0.45 16.57
North Westerly VI ESG CLO DAC NIBC Feb 29, 2024 2,785 16.15 24.98 4.55 0.48 1.29 15.93
North Westerly VII ESG CLO DAC NIBC Feb 29, 2024 2,843 12.61 26.55 4.66 0.31 1.97 17.78
Northwoods Capital 19 Euro DAC Northwoods Feb 29, 2024 2,920 8.79 22.18 6.95 0.54 0.00 16.44
Northwoods Capital 21 Euro DAC Northwoods Mar 11, 2024 2,960 8.34 22.54 6.95 0.51 0.00 14.60
Northwoods Capital 23 Euro DAC Northwoods Mar 05, 2024 2,957 8.24 22.61 7.14 0.54 0.00 14.81
Northwoods Capital 24 Euro DAC Northwoods Mar 04, 2024 2,980 8.05 21.91 7.74 0.54 0.00 15.38
Northwoods Capital 26 Euro DAC Northwoods Mar 04, 2024 2,932 10.10 22.25 6.74 0.47 0.00 15.35
OCP EURO CLO 2022-5 DAC Onex Mar 06, 2024 2,828 15.34 33.66 1.70 0.00 0.30 16.31
OCP Euro CLO 2017-1 DAC Onex Mar 06, 2024 2,739 18.20 29.32 1.71 0.00 0.34 15.16
OCP Euro CLO 2017-2 DAC Onex Mar 06, 2024 2,744 18.94 30.93 1.44 0.00 2.01 16.43
OCP Euro CLO 2019-3 DAC Onex Mar 06, 2024 2,781 14.49 28.35 1.73 0.00 0.28 15.44
OCP Euro CLO 2020-4 DAC Onex Feb 06, 2024 2,852 14.07 33.17 2.00 0.00 0.40 17.50
OCP Euro CLO 2023-8 DAC Onex Mar 06, 2024 2,889 9.83 31.71 1.11 0.00 0.28 13.43
OCPE CLO 2023-7 DAC Onex Feb 06, 2024 2,919 11.06 34.66 1.94 0.00 0.00 15.68
OZLME III DAC Sculptor Feb 13, 2024 2,795 19.44 18.06 6.28 1.94 0.76 15.21
Oak Hill European Credit Partners VIII DAC Oak Hill Mar 06, 2024 2,832 12.06 23.97 4.61 0.00 1.60 9.63
Palmer Square European CLO 2021-1 DAC Palmer Square Feb 29, 2024 2,811 10.70 24.58 3.57 0.00 0.85 14.15
Palmer Square European CLO 2021-2 DAC Palmer Square Feb 06, 2024 2,811 10.82 24.54 3.54 0.00 0.86 14.24
Palmer Square European CLO 2022-1 DAC Palmer Square Jan 31, 2024 2,792 11.40 23.98 2.75 0.00 0.50 14.25
Palmer Square European CLO 2022-2 DAC Palmer Square Feb 29, 2024 2,754 11.82 23.20 1.70 0.00 0.50 10.69
Palmer Square European CLO 2023-1 DAC Palmer Square Feb 29, 2024 2,670 15.79 21.35 1.08 0.00 0.50 11.03
Palmer Square European CLO 2023-2 DAC Palmer Square Mar 01, 2024 2,722 13.83 22.04 1.62 0.00 0.85 10.37
Penta CLO 12 DAC Partners Feb 29, 2024 2,905 10.22 31.21 2.83 0.00 0.39 12.35
Penta CLO 14 DAC Partners Feb 29, 2024 2,920 8.85 30.84 2.55 0.00 0.59 10.97
Penta CLO 15 DAC Partners Mar 28, 2024 2,819 11.48 28.59 1.79 0.00 0.28 9.81
Penta CLO 5 DAC Partners Feb 29, 2024 2,930 12.43 29.92 6.30 0.00 0.99 13.87
Penta CLO 7 DAC Partners Mar 28, 2024 2,899 10.84 27.25 5.28 0.00 0.81 11.65
Penta CLO 8 DAC Partners Feb 29, 2024 2,959 9.41 31.88 5.81 0.00 0.33 15.97
Penta CLO 9 DAC Partners Feb 29, 2024 2,890 10.61 27.55 5.22 0.00 1.62 9.18
Providus CLO I DAC Permira Feb 29, 2024 2,837 14.42 33.24 4.17 0.00 2.25 10.20
Providus CLO III DAC Permira Feb 29, 2024 2,920 8.99 33.55 2.57 0.00 1.02 8.85
Providus CLO IV DAC Permira Feb 29, 2024 2,932 7.37 33.78 2.58 0.00 0.36 9.65
Providus CLO V DAC Permira Feb 29, 2024 2,945 7.91 33.07 3.09 0.00 0.61 9.27
Providus CLO VI DAC Permira Feb 29, 2024 2,948 8.00 33.49 3.20 0.00 0.48 9.70
Providus CLO VII DAC Permira Feb 29, 2024 2,943 8.27 33.14 2.52 0.00 0.14 8.46
Providus CLO VIII DAC Permira Feb 29, 2024 2,960 7.05 33.68 2.71 0.00 0.61 9.39
Purple Finance CLO 1 DAC Ostrum Mar 15, 2024 2,679 19.10 26.68 1.88 0.00 0.96 16.42
Purple Finance CLO 2 DAC Ostrum Mar 15, 2024 2,820 8.13 20.97 1.50 0.00 0.00 17.58
RRE 1 Loan Management DAC Redding Ridge Feb 29, 2024 2,819 11.11 23.20 3.74 0.00 0.00 11.13
RRE 10 Loan Management DAC Redding Ridge Feb 29, 2024 2,809 11.08 23.91 3.34 0.00 0.00 10.46
RRE 11 Loan Management DAC Redding Ridge Feb 29, 2024 2,798 9.54 23.01 2.60 0.00 0.00 11.99
RRE 12 Loan Management DAC Redding Ridge Feb 29, 2024 2,818 8.73 22.47 2.85 0.00 0.00 10.35
RRE 15 Loan Management DAC Redding Ridge Feb 29, 2024 2,825 8.41 21.63 2.58 0.00 0.24 10.88
RRE 16 Loan Management DAC Redding Ridge Feb 29, 2024 2,804 7.37 24.35 1.09 0.00 0.40 10.48
RRE 2 Loan Management DAC Redding Ridge Feb 29, 2024 2,796 11.50 22.90 3.18 0.00 0.00 11.01
RRE 3 Loan Management DAC Redding Ridge Feb 29, 2024 2,799 11.55 22.99 3.00 0.00 0.00 11.41
RRE 5 Loan Management DAC Redding Ridge Feb 29, 2024 2,807 10.43 23.70 3.14 0.00 0.00 11.24
RRE 6 Loan Management DAC Redding Ridge Feb 29, 2024 2,806 11.55 22.68 3.34 0.00 0.00 11.80
RRE 7 Loan Management DAC Redding Ridge Feb 29, 2024 2,809 10.88 22.81 3.61 0.00 0.00 11.28
RRE 8 Loan Management DAC Redding Ridge Feb 29, 2024 2,865 8.61 24.48 3.79 0.00 0.00 10.62
RRE 9 Loan Management DAC Redding Ridge Feb 29, 2024 2,876 9.08 24.70 4.44 0.00 0.00 10.93
Rockfield Park CLO DAC Blackstone Feb 12, 2024 2,835 9.80 27.08 2.46 0.25 0.86 14.27
Rockford Tower Europe CLO 2021-1 DAC Rockford Mar 15, 2024 2,782 18.68 24.29 7.02 0.00 1.36 11.80
Rockford Tower Europe CLO 2021-2 DAC Rockford Mar 15, 2024 2,848 15.43 26.38 5.95 0.00 1.16 13.56
Rockford Tower Europe CLO 2023-1 DAC Rockford Mar 15, 2024 2,777 16.38 22.68 4.34 0.00 1.36 11.18
Sculptor European CLO I DAC Sculptor Mar 11, 2024 2,804 16.47 19.37 3.85 1.52 0.34 13.95
Sculptor European CLO II DAC Sculptor Mar 11, 2024 2,787 16.42 20.06 3.32 1.38 0.13 13.87
Sculptor European CLO VI DAC Sculptor Feb 06, 2024 2,744 18.36 19.58 3.77 1.07 0.13 13.82
Sculptor European CLO VII DAC Sculptor Mar 15, 2024 2,848 16.75 23.79 3.00 1.85 0.86 18.10
Sculptor European CLO VIII DAC Sculptor Mar 05, 2024 2,807 13.94 21.78 1.90 1.27 0.63 15.49
Seapoint Park CLO DAC Blackstone Feb 09, 2024 2,852 12.18 26.13 3.30 0.49 0.86 11.79
Segovia European CLO 1-2014 DAC Segovia Mar 05, 2024 2,910 11.75 28.36 6.88 0.00 0.49 14.52
Segovia European CLO 3-2017 DAC Segovia Mar 12, 2024 2,939 10.01 28.74 5.83 0.00 0.00 14.16
Segovia European CLO 4-2017 DAC Segovia Mar 06, 2024 2,890 15.44 29.88 8.22 0.00 0.39 14.79
Sona Fios CLO I DAC Sona Mar 28, 2024 2,735 9.36 16.95 0.93 0.00 0.00 5.82
Sound Point Euro CLO III Funding DAC Sound Point Mar 08, 2024 2,830 12.78 30.14 1.50 0.00 0.00 14.25
Sound Point Euro CLO IV Funding DAC Sound Point Mar 01, 2024 2,829 13.63 31.37 1.21 0.00 0.00 14.32
St. Paul's CLO II DAC Intermediate Mar 11, 2024 3,089 10.33 23.31 6.61 2.95 0.32 15.67
St. Paul's CLO IX DAC Intermediate Feb 07, 2024 2,989 11.75 22.97 5.86 1.86 0.25 15.64
St. Paul's CLO VI DAC Intermediate Feb 07, 2024 3,051 11.34 27.08 4.34 2.52 0.49 15.39
St. Paul's CLO VII DAC Intermediate Mar 07, 2024 3,088 10.11 25.06 5.47 2.76 0.18 14.39
St. Paul's CLO X DAC Intermediate Mar 07, 2024 2,988 9.81 25.81 5.00 1.54 0.39 16.21
St. Paul's CLO XII DAC Intermediate Mar 07, 2024 3,008 10.81 25.53 7.77 1.25 0.48 15.75
Tikehau CLO III DAC Tikehau Feb 20, 2024 2,793 15.59 27.29 6.01 0.00 0.00 11.08
Tikehau CLO IX DAC Tikehau Feb 29, 2024 2,785 10.02 21.12 2.86 0.00 0.00 13.03
Tikehau CLO V DAC Tikehau Feb 29, 2024 2,864 11.06 28.99 4.38 0.00 0.67 11.50
Tikehau CLO VII DAC Tikehau Feb 29, 2024 2,841 10.10 25.70 3.34 0.00 0.40 12.69
Tikehau CLO VIII DAC Tikehau Feb 29, 2024 2,804 9.68 24.89 2.21 0.00 0.35 13.70
Tikehau CLO XI DAC Tikehau Feb 29, 2024 2,818 8.55 24.45 1.10 0.00 0.00 10.94
Toro European CLO 2 DAC Chenavari Mar 15, 2024 2,933 14.46 20.08 6.75 1.64 0.53 14.92
Toro European CLO 3 DAC Chenavari Mar 15, 2024 2,881 14.22 19.14 4.82 1.83 0.59 15.73
Toro European CLO 5 DAC Chenavari Mar 15, 2024 3,109 13.76 27.56 8.03 2.53 1.09 15.96
Toro European CLO 6 DAC Chenavari Mar 15, 2024 2,897 13.22 22.80 6.06 0.75 0.00 14.07
Toro European CLO 7 DAC Chenavari Mar 15, 2024 2,929 13.99 22.81 5.44 1.10 0.95 15.06
Toro European CLO 8 DAC Chenavari Mar 15, 2024 2,860 13.88 27.23 3.30 0.36 0.00 15.11
Trinitas EURO CLO II DAC WhiteStar Mar 15, 2024 2,675 16.89 20.99 1.38 0.00 0.97 12.43
Trinitas EURO CLO V DAC WhiteStar Mar 15, 2024 2,612 14.65 16.89 0.00 0.00 0.42 11.73
Trinitas Euro CLO I DAC WhiteStar Mar 15, 2024 2,684 14.88 19.31 1.59 0.00 1.11 14.39
Trinitas Euro CLO III DAC WhiteStar Mar 15, 2024 2,696 15.05 22.45 0.99 0.00 1.46 14.51
Trinitas Euro CLO IV DAC WhiteStar Mar 15, 2024 2,657 15.93 20.90 0.47 0.00 1.10 14.39
Tymon Park CLO DAC Blackstone Feb 15, 2024 2,911 10.65 28.19 5.15 0.24 1.31 13.85
Vendome Funding CLO 2020-1 DAC CELF Feb 07, 2024 3,051 9.04 29.67 4.60 1.28 0.00 14.15
Vesey Park CLO DAC Blackstone Mar 20, 2024 2,888 9.77 27.93 2.85 0.48 1.31 12.81
Voya Euro CLO I DAC Voya Mar 11, 2024 2,973 14.10 30.42 7.72 0.41 0.61 16.21
Voya Euro CLO III DAC Voya Mar 11, 2024 2,951 10.75 28.13 6.06 0.23 0.32 15.50
Voya Euro CLO IV DAC Voya Mar 05, 2024 2,897 10.98 25.18 5.02 0.09 0.00 17.52
Voya Euro CLO V DAC Voya Mar 05, 2024 2,891 10.24 24.66 4.74 0.00 0.00 17.36
Wilton Park CLO DAC Blackstone Mar 08, 2024 2,808 9.22 25.25 1.36 0.00 1.68 15.17
Note: All data is as of the date of the table. SPWARF--S&P Global Ratings' weighted-average rating factor.

Our EMEA CLO Collateral Managers Dashboard compares weekly European CLO data. This is a single snapshot view of CLO-critical credit risk factors where you can examine, compare, and benchmark individual S&P Global Ratings' rated European CLOs.

https://www.spglobal.com/ratings/en/research-insights/topics/powerbinew

Appendix

The scope: All our rated European CLOs are included in this report, including those which are in their reinvestment period.

Rating and recovery actions listed for nonfinancial corporations only include those that were present in our rated European CLOs on the rating or recovery action date. In most cases the rating action will be a change in the issuer credit rating (ICR), however under our rating definitions for CLOs, this could be a change in an issue credit rating or a change in methodology of how the rating is derived from a parent entity or a change in the hierarchy following a merger and acquisition. According to our CLO criteria, a corporate rating on CreditWatch negative would be notched down by one rating and a corporate rating on CreditWatch positive would be notched up by one rating in our CLO analysis. For example, we would treat a corporate rating of 'B/Watch Neg' as a 'B-' rating in our CLO analysis (see "Global Methodology And Assumptions For CLOs And Corporate CDOs," published June 21, 2019).

Determining the rating input for CDO Evaluator

As well as looking at the impact that downgrades and upgrades may have, we would also consider the impact of a CreditWatch placement (as described above), any placement which would mean we would run CDO Evaluator with an updated rating input will be classified as having a rating impact for CDO Evaluator.

Benchmark data

European CLO assets included in this report will be from the latest trustee report available to S&P Global Ratings with rating and recovery data as of the date of this report provided by S&P Global Ratings. New issuance will not be included until the first trustee report is available and where a new trustee report is available, it will be included in the next refresh on data as indicated by the date of this report.

S&P Global Ratings' weighted-average rating factor (SPWARF)

The SPWARF of a CLO portfolio provides an indication of the overall credit rating distribution of the portfolio, weighted by each asset's par balance. The rating factor for each of the portfolio assets is determined by S&P Global Ratings' credit rating (or implied rating) and the rating factor. (An individual asset's S&P Global Ratings' rating factor is the five-year default rate, given the asset's S&P Global Ratings' credit rating and the default table in the corporate CDO criteria, multiplied by 10,000.) The SPWARF is calculated by multiplying the par balance of each collateral obligation by the S&P Global Ratings' rating factor (including exposures to issuers with a nonperforming rating: 'CC', 'SD', and 'D', each with a rating factor of 10,000), then summing the total for the portfolio and dividing this result by the aggregate principal balance of the collateral obligations included in the calculation.

'BB-' and above (%)

For those assets with a 'BB-' rating and above, the 'BB-' rating and above percentage is a proportion of the total CLO par amount considered in this analysis.

'B-' (%)

For those assets with a 'B-' rating, the 'B-' rating percentage is a proportion of the total CLO par amount considered in this analysis.

'CCC' category

For those assets with a 'CCC+', 'CCC', and 'CCC-' rating, the 'CCC' category percentage is a proportion of the total CLO par amount considered in this analysis.

Nonperforming category (%)

For those assets with a 'CC', 'SD', and 'D' rating, the nonperforming category percentage is a proportion of the total CLO par amount considered in this analysis.

CreditWatch negative (%)

For those assets with a CreditWatch negative rating, the CreditWatch negative percentage is a proportion of the total CLO par amount considered in this analysis.

Negative outlook (%)

For those assets with a negative outlook, the outlook percentage is a proportion of the total CLO par amount considered in this analysis.

Primary Credit Analyst:Shane Ryan, London + 44 20 7176 3461;
shane.ryan@spglobal.com
Secondary Contacts:Emanuele Tamburrano, London + 44 20 7176 3825;
emanuele.tamburrano@spglobal.com
Sandeep Chana, London + 44 20 7176 3923;
sandeep.chana@spglobal.com
Abhijit A Pawar, London + 44 20 7176 3774;
abhijit.pawar@spglobal.com
Rebecca Mun, London + 44 20 7176 3613;
rebecca.mun@spglobal.com
John Finn, Paris +33 144206767;
john.finn@spglobal.com
David Maman, Paris +33 1 4075 2518;
david.maman@spglobal.com

No content (including ratings, credit-related analyses and data, valuations, model, software, or other application or output therefrom) or any part thereof (Content) may be modified, reverse engineered, reproduced, or distributed in any form by any means, or stored in a database or retrieval system, without the prior written permission of Standard & Poor’s Financial Services LLC or its affiliates (collectively, S&P). The Content shall not be used for any unlawful or unauthorized purposes. S&P and any third-party providers, as well as their directors, officers, shareholders, employees, or agents (collectively S&P Parties) do not guarantee the accuracy, completeness, timeliness, or availability of the Content. S&P Parties are not responsible for any errors or omissions (negligent or otherwise), regardless of the cause, for the results obtained from the use of the Content, or for the security or maintenance of any data input by the user. The Content is provided on an “as is” basis. S&P PARTIES DISCLAIM ANY AND ALL EXPRESS OR IMPLIED WARRANTIES, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE, FREEDOM FROM BUGS, SOFTWARE ERRORS OR DEFECTS, THAT THE CONTENT’S FUNCTIONING WILL BE UNINTERRUPTED, OR THAT THE CONTENT WILL OPERATE WITH ANY SOFTWARE OR HARDWARE CONFIGURATION. In no event shall S&P Parties be liable to any party for any direct, indirect, incidental, exemplary, compensatory, punitive, special or consequential damages, costs, expenses, legal fees, or losses (including, without limitation, lost income or lost profits and opportunity costs or losses caused by negligence) in connection with any use of the Content even if advised of the possibility of such damages.

Credit-related and other analyses, including ratings, and statements in the Content are statements of opinion as of the date they are expressed and not statements of fact. S&P’s opinions, analyses, and rating acknowledgment decisions (described below) are not recommendations to purchase, hold, or sell any securities or to make any investment decisions, and do not address the suitability of any security. S&P assumes no obligation to update the Content following publication in any form or format. The Content should not be relied on and is not a substitute for the skill, judgment, and experience of the user, its management, employees, advisors, and/or clients when making investment and other business decisions. S&P does not act as a fiduciary or an investment advisor except where registered as such. While S&P has obtained information from sources it believes to be reliable, S&P does not perform an audit and undertakes no duty of due diligence or independent verification of any information it receives. Rating-related publications may be published for a variety of reasons that are not necessarily dependent on action by rating committees, including, but not limited to, the publication of a periodic update on a credit rating and related analyses.

To the extent that regulatory authorities allow a rating agency to acknowledge in one jurisdiction a rating issued in another jurisdiction for certain regulatory purposes, S&P reserves the right to assign, withdraw, or suspend such acknowledgement at any time and in its sole discretion. S&P Parties disclaim any duty whatsoever arising out of the assignment, withdrawal, or suspension of an acknowledgment as well as any liability for any damage alleged to have been suffered on account thereof.

S&P keeps certain activities of its business units separate from each other in order to preserve the independence and objectivity of their respective activities. As a result, certain business units of S&P may have information that is not available to other S&P business units. S&P has established policies and procedures to maintain the confidentiality of certain nonpublic information received in connection with each analytical process.

S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or from obligors. S&P reserves the right to disseminate its opinions and analyses. S&P's public ratings and analyses are made available on its Web sites, www.spglobal.com/ratings (free of charge), and www.ratingsdirect.com (subscription), and may be distributed through other means, including via S&P publications and third-party redistributors. Additional information about our ratings fees is available at www.spglobal.com/usratingsfees.

 

Create a free account to unlock the article.

Gain access to exclusive research, events and more.

Already have an account?    Sign in