Jan 16, 2012
- Hugh Leask
Caution Still Urged On BBB CLO Plays
Investors in Europe’s collateralized loan obligation market should remain cautious of BBB plays despite “very attractive” nominal yields, London-based asset-backed securities analysts said.
Pricing weakness seen in underlying loans has fallen back down to those underpinning the BB level in U.S. CLOs, but in Europe weakness is still seen further up the capital structure, bleeding into the....